A St Kilda pub and hotel business has hit the market amid the boom in pub-style accommodation around the country.
Located on bustling Barkly Street in the bayside suburb of St Kilda, Hotel Barkly holds a 3am licence and consists of a public bar and rooftop bar, a downstairs bar and function room, and TAB facilities.
It also holds 11 boutique hotel rooms known as St Kilda Beach House, and 24 upmarket backpacker dormitories. The building enjoyed a substantial upgrade and redevelopment around ten years ago.
St Kilda is one of Melbourne’s most popular tourism and retail precincts, and Hotel Barkly is just six kilometres from the CBD, positioning it well to take advantage of the increasing demand for mid-tier accommodation offerings in the capitals.
The sale campaign is being managed by Colliers International’s Guy Wells and Will Connolly, who suggest numerous upsides for an incoming operator.
“The multi-faceted nature of the business benefits from multiple revenue streams,” says Connolly.
“Hotel Barkly’s existing trade provides a strong base line, whilst also presenting an opportunity to further drive food and beverage revenue into the future.
“[It] has been a well-regarded entertainment venue for a number of years, with the Next Level rooftop bar particularly popular for private functions.
“The business has a strong trading history and comes with a long term lease agreement, a 3am liquor licence with 581-person capacity, and the potential to lease food and beverage or function spaces separately from the backpackers.”
The leasehold business is being sold via Private Treaty, closing in June.
