John Foreman’s Bar Mexico venue on sale three months after he moved in
Grazeland operator John Foreman has listed Bar Mexico for sale less than a month after it opened.
Foreman partnered with El Taco duo Nevan Hayek and Sandrow Yalda to launch Bar Mexico in June. It offers 50 varieties of tequila, mezcals and raicilla — all from Mexican distilleries and its menu includes tacos stuffed with everything from pulled pork and beef to prawns, fish and cauliflower.
The two-storey Preston venue, formerly an old shoe factory, is expected to attract offers of around $3 million.
The sale is being facilitated by Colliers’ Ryan Milivojac who said selling a property so soon after it was newly tenanted would appeal to investors looking for a reliable income site.
“John has said that bookings Wednesday through Saturday are filling the place up,” Milivojac said.
Forman spent 14 years at the helm of Eureka Skydeck and established Grazeland, a 50-vendor food park in Spotswood, in 2021. He is more than just a hospitality director having arranged Eureka stunts such as a sky-high tightrope walk and superheroes scaling the formerly tallest tower in Melbourne.
Hayek and Yalda are the masterminds behind the wildly popular El Taco at Grazeland and are setting their sights on creating the same level of popularity at Bar Mexico.
The restaurant-bar is slated to open next month at 39 High St, adding to the burgeoning hospitality scene in the area.
Bar Mexico has signed a 3-year lease agreement for $150,000 annually, with a guaranteed 3% increase each year.
Those interested in acquiring the venue can participate in the upcoming auction scheduled for August 21, 2023, at 12:30 PM.
Jonathan Jackson, 24th July 2024
