Local private investor buys pub in Abbotsford

VIC: Pub sale, 149 Gipps Street, Abbotsford

A local private investor has bought the Laird Hotel in Melbourne’s inner east for $2.66 million.

The two storey pub has a ground floor bar, pool room, nightclub area and outdoor courtyard.

There are also six hotel rooms and a common area.

The pub, which will return $123,000 per year to the owner, was sold at an auction.

Colliers International agent Pat Connolly said Abbotsford was home to a mixture of residential and commercial properties, which was reflected in The Laird Hotel’s surroundings.

“The Abbotsford area has been reincarnated in recent times and is now one of Melbourne’s most sought after suburbs,” Mr Connolly said.

“It is conveniently located within easy reach of the Melbourne CBD and is surrounded by the popular suburbs of Collingwood and Richmond.”

Source:  The Australian - 13th July 2015