Just two months after the leasehold business was sold to the booming Dixon Hospitality, Gerry Ryan’s Melbourne pub group is offloading the Newmarket Hotel freehold.
Situated on a generous 1,000 m² block in bustling St Kilda, the hotel underwent an extensive refurbishment just three years ago, and is leased to Dixon for the next 25 years.
The building has an historic red brick façade, as well as an open courtyard, bar and dining area flowing through the ground floor of the hotel.
CBRE Hotels’ Scott Callow and Joseph Du Rieu are steering the campaign, and will host a public auction onsite, 12 November. Callow says interest should be high for the potential investment.
“This high performing asset presents an outstanding opportunity to gain a foothold in Melbourne’s sought after Melbourne market.
“Prominently situated on Inkerman Street, the Newmarket Hotel is an iconic St Kilda watering hole, popular for its high end pub fare and extensive selection of boutique beers on tap.”
Callow told PubTIC he has no knowledge of future acquisition plans by Melbourne Pub Group, and suggests they are consolidating to focus on the Group’s primary asset – The Prince, also in St Kilda.
