This unlucky Irish pub signals trouble for Melbourne

The Corkman Irish Pub was built in 1857. Located 2km north of the Melbourne CBD, and opposite the Law Building of Melbourne University, it was favoured by local students.

The property sold in 2014 for $4.8 million with a net income of $82,000 a year. The income was surprisingly low given the sale terms of a nearby Irish Pub in Flemington, which sold for $4.7 million in 2016 and yielded $200,000 net a year.