Brisbane’s hottest hotel nightclub has come to market, as its creators look to more daytime pub pursuits.
The Met is a big-format operation in Fortitude Valley, located between Brunswick St Mall, China Town, and Valley Train Station, every week home to the biggest National and International talent in the DJ and live music world, and flagship venue of Revelry Entertainment.
Since purchasing the flagging operation in 2013, directors Trent Meade and Matt Blyth have built it into one of the city’s most popular nightclubs, partnering with music festivals and drawing big-name acts.
Four years on, the pair have young families and aspirations of food & bev-based operations in more traditional pubs, and look to launch their new hospitality brand, ‘Celissa’, with “a new CBD venue” expected in Q1 next year.
As Brisbane’s late-night trading issues fade, with all political parties backing away from the proposed Amendment Bill to apply lockouts, Meade and Blyth have listed their baby as it enters a new era.
“Matt and I have always believed that it’s good business practise to facilitate win-win solutions,” says Meade.
“It is the right time to exit, with the business extremely profitable and still offering enormous upside for the next operator. The time has come for us to move out of the nightclub scene and into a new food & beverage market.”
While it currently does the bulk of trade on Friday and Saturday nights, The Met holds a commercial hotel licence, and could see considerable repositioning and up-scaling in the right hands.
Revelry has listed the business with Ray White Hotels’ Queensland director, Glenn Price, for an intensive four-week campaign.
“Trent and Matt have been very successful with their current business model, generating strong income out of a business effectively only trading two nights per week,” offers Price.
“The multi-level design lends itself to a new operator taking the profitable base trade and developing the offering further, perhaps incorporating a food and/or gaming component into the operation.”
The Met is central to the $500m Valley Metro redevelopment project, bringing overhauled amenities around the Station, and a new luxury residential tower and state-of-the-art commercial tower.
“The project will provide a significant boost to the Brisbane economy, and have a lasting uplift to Fortitude Valley and local business,” added Price.
The Met is being sold via an Expressions of Interest campaign, concluding Wednesday 22 November.
