Port Melbourne’s Pier Resort has hit the marketplace for the primary time in 23 years.
A waterfront Port Melbourne pub the place a slew of native celebrities partied final month has hit the marketplace for the primary time in 23 years.
The Pier Resort, discovered on a first-rate waterfront spot on the nook of Bay and Seaside Streets, might promote for about $18m as present proprietor David Cambridge gears up for his subsequent venture.
At the moment stretching throughout two ranges and boasting a latest exterior renovation, the Pier additionally has an accepted allow for potential publicans to increase the venue with a 3rd degree — together with a rooftop bar overlooking the bay.
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The Port Melbourne watering gap was not too long ago the location for the respective sixtieth birthday bashes of AFL personalities Ricky Nixon and Warwick Capper, who initially feuded over who would host the superior occasion.
Nixon’s celebrations on July 8 noticed appearances from the likes of Wayne Carey and Sam Newman, whereas Capper’s operate the next week included music performances from Shannon Noll, Increase Crash Opera, Taxiride and Brian Mannix.
The high-profile venue consists of a number of operate rooms, a big public bar and eating space, and fully-fitted business kitchen.
JLL’s Resort Funding Gross sales vice chairman Will Connolly is dealing with the sale alongside Lachlan Persley and Jesse Radisich.
The pub is in a first-rate waterfront location in Port Melbourne.
AFL personalities Ricky Nixon and Warwick Capper not too long ago held their respective sixtieth birthday bashes on the Pier.
The group are presently fielding early presents, nevertheless sources recommend the pub will promote for about $18m.
Mr Connolly is already seeing a “big quantity of consideration” for the location and recalled the latest notable gross sales of the Lorne Resort and Rye Resort as examples of the demand for this sort of providing.
“It’s clear that in latest instances, beachfront pub belongings have had the power to conjure a extremely emotive funding response from the market,” Mr Connolly mentioned.
“We anticipate the Pier to evoke simply as sturdy a degree of demand from operators on a nationwide degree, who establish the generational alternative the asset gives.”
He added that Mr Cambridge felt it was a time to maneuver on from the business.
A uncommon providing by the seashore.
It boasts a number of operate rooms and an enormous public bar.
“The Pier Resort has been superb to David over his 23-year possession and he has trusted us with the duty of presenting his much-loved asset on the market so he can transfer on to the following venture,” the agent mentioned.
The pub additionally holds a uncommon 3am common liquor license, providing consumers the chance to take it over as a late-night venue.
Mr Radisich added that it was not typically for “iconic nook freeholds” with expansive water views to hit the market.
“The providing gives for a spread of thrilling repositioning and redevelopment choices to capitalise on the place and the points,” he mentioned.
Expressions of curiosity for the 1 Bay St tackle shut at 5pm on August 30.
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emily.holgate@information.com.au
