Inner Melbourne’s East Brunswick Hotel for sale
Lygon Street’s popular East Brunswick Hotel has come to market, offering purchasers a rare opportunity to acquire both the freehold and business interest in one of Melbourne’s most vibrant suburbs. Offered as a freehold going concern, the popular inner north pub is being presented for sale via JLL’s Will Connolly in conjunction with Anthony Stevens of Anthony Stevens Real Estate.
Having undergone significant renovations in recent years, the East Brunswick Hotel provides a sound mix of key revenue drivers derived from multiple trading zones which include an expansive public bar, adjoining function and dining space known as the ‘Piano Bar’, private dining room, along with a first floor private function room. A well-equipped commercial kitchen with consistently upgraded plant & equipment complements the service areas.
Offering a significant point of difference are 12 luxuriously appointed boutique accommodation rooms, providing a mix of both hotel and studio style options with dedicated lift access.
Will Connolly, Senior Vice President, JLL Hotels commenting; “It’s seldom seen within the Melbourne pub market where a true freehold going concern opportunity becomes available, with many of our city’s venues separately owned between leasehold and freehold interest. This factor will allow a greater depth of market to consider the East Brunswick Hotel, with operators having the ability “control their destiny” and acquire the hotel outright. Or alternatively, for potential investors to partner with existing operators and formalise a lease agreement going forward”.
With its expansive land-holding, Commercial 1 Zoning and inclusivity of a valuable 1am ‘General’ hotel liquor licence, the property sits prominently within the local landscape. Its advantageous location amongst a number of residential developments either completed or currently under construction, provides both day and night patronage.
Anthony Stevens, Director, Anthony Stevens Real Estate, concluding; “The property has a significant amount of high-grade existing infrastructure, leaving minimal capital expenditure requirements by incoming purchasers. This, coupled with the clear operational upside the business provides, are clear indicators to us this opportunity will generate a high level of interest in the marketplace”.
The East Brunswick Hotel, located at 280 Lygon Street, Brunswick East, is offered for sale via national Expressions of Interest closing Thursday 5 December 2024 at 12:00pm.
JLL, 11th November 2024
