Iconic Albert Park landmark to reopen as premier dining and function space
A beloved Albert Park landmark will soon be revitalised as a contemporary restaurant and function centre, thanks to a new partnership between Parks Victoria and leading hospitality group, the Australian Venue Company (AVC).
The iconic site, formerly known as The Point, will reopen as the Albert Park Lake House, offering a fresh dining and events experience in the heart of one of Melbourne’s most cherished parks.
Located at the northern end of Albert Park Lake, the venue boasts breathtaking views across the water, towards the Melbourne CBD skyline, and the lake’s bustling sailing area. For decades, the site housed a renowned restaurant celebrated for its fine dining, before transitioning into an Asian restaurant, which closed in 2021.
AVC will invest $3.4 million to transform the space, creating a vibrant destination for families, corporations, events, visitors, and the local community to enjoy.
The ground floor will feature a casual bistro with a balcony overlooking the parkland and lake, providing the perfect setting for relaxed meals and gatherings. The first level will be dedicated to functions and events, offering a versatile space for weddings, corporate celebrations, and both small and large group occasions.
Following a comprehensive Expression of Interest process, AVC secured a 21-year lease, kicking off an exciting new chapter for this iconic location. Remediation work has already started to prepare the building for fit-out, with renovations expected to begin later this year or early 2026. The venue is anticipated to open its doors by mid-2026.
The transformation of the Albert Park Lake House is part of a broader effort to enhance Albert Park’s facilities and preserve its status as a premier destination for recreation, sport, and community engagement. Recent Victorian Government investments include solar panels for community spots clubs. The Federal Government is also contributing $5 million to deliver further upgrades to changerooms, sports fields, and sailing amenities within the park, while Parks Victoria provides annual funding for sports clubs through the Albert Park Sports Grants program.
Evan Gargaro, Victorian State Manager for AVC, has expressed his enthusiasm for the partnership, “We are thrilled to be partnering with Parks Victoria on this iconic project. The team is looking forward to bringing the reimagined Albert Park Lake House to life.”
Lyndsey Jackman, Director of Commercial for Parks Victoria, also expressed his enthusiasm, “Our partnership with the Australian Venue Company represents a fantastic opportunity to breathe new life into a cherished Albert Park landmark. The Albert Park Lake House will not only enhance the visitor experience but also ensure this iconic location remains a vibrant and welcoming space for the community to enjoy for years to come. We’re excited to see this vision come to life and look forward to welcoming locals and visitors alike to this stunning destination.”
With its stunning location, modern amenities, and commitment to community engagement, the Albert Park Lake House is poised to become a vibrant hub for dining, celebrations, and connection in one of Melbourne’s most picturesque settings.
For more information about Albert Park and its facilities, or for updates as this exciting project unfolds, visit the Parks Victoria website.
Parks Victoria, 14th February 2025
