Australian Venue Co has acquired three leases in Melbourne.
One – the Sunbury Ball Court – was reported earlier this month when the freehold property was sold to Hotel Property Investments for $ 7.6 million.
The operator announced today that two more pubs – St Kilda’s c1891 Village Belle and Victoria Hotel, in Yarraville – will be added to its stable.
Following the settlement, which is expected to take place within the next five weeks, AVC will be holding 38 Victorian venues.
âIt has been a difficult 18 month period for the industry, but we are a resilient companyâ¦ focused on the future,â said General Manager Paul Waterson.
âThe Melburnians missed the ad and they are coming out en masse,â he added of the latest lockdown ending.
“These new acquisitions are great community ads and we are excited to be a part of their next chapter as we look to the future,” said the leader.
âWe’re excited to open their doors for a fun summer of meeting up with friends and returning to the pubâ (story continues below).
The Village Belle, which faces Acland Street and renovated in 2017, stands over two floors and includes a beer garden and cocktail bar.
As a result of the AVC lease – at $ 1.458 million per year – freehold ownership was listed; Marketing agency JLL expects more than $ 35 million.
The Yarraville site was created in 1873; the operator is considering a redesign repositioning the asset with families and athletes.
The ball field was built in the 1870s.
Earlier this month, AVC announced it would rename Fitzroy’s Bimbo, on Brunswick Street, in Kewpie.
In July, the operator rented the Hotham Hotel on Mount Hotham.
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