But it won’t be part of the hospitality offering at this year’s event that gets underway from Thursday and is expected to break last year’s record attendance of 452,000.
The Point, a two-storey building with a downstairs café/restaurant and an upstairs function centre, opened as a fine dining venue in 1995 and was helmed for periods by some of Melbourne’s top chefs. It closed in 2021, but a joint venture between Parks Victoria, who manage the lake precinct, and the Australian Venue Company (AVC) will see it reopen in mid-2026.
AVC has agreed to invest about $3.4 mullion, which will transform the venue into a vibrant destination for private and corporate events with a ground floor casual bistro and balcony overlooking the lake and with view of the CBD. Upstairs will be dedicated to functions and events
Parks Victoria’s commercial director, Lyndsey Jackman, is enthusiastic about the collaboration.
“Our partnership with the Australian Venue Company represents a fantastic opportunity to breathe new life into a cherished Albert Park landmark,” he said.
“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.”
Responding to a government “expression of Interest”, AVC secured a 21-year lease on the venue and has already commenced work to prepare the building with the major renovation work to start later this year.
