The acclaimed Terminus Hotel has come on the market as its long-term operator calls end to an “amazing journey”.
Driving the Hotel since 2004, Russell Griggs says the Melbourne pub scene has changed dramatically in the past eleven years, and while he has enjoyed reviving the Terminus, his heart is elsewhere.
“The Terminus has been an amazing journey. Building the business from only $5,000 a week turnover to where it is today, building a strong local community customer base as well as drawing patrons from all over the state, and even internationally, has been really satisfying.
“[But] I am keen to spend more time and energy on my largest and newest project to date, Foresters Hall.”
A regular in Melbourne’s Good Food Guide, the venue is also well known for its selection of craft beers, bolstered by a complementary fit-out. Yet Griggs maintains there is “still so much scope to do more” to further improve the business.
“We have made many physical changes at the Terminus in recent years, but more importantly, we have built a strong business on the back of consistent quality of both service and food and beer offerings, in a comfortable and relaxed environment.
“Probably the biggest physical change has been the development of the craft bar and beer garden. This has almost doubled the size of our floor area, and is a lively, contemporary, light-filled space offering an Asian-inspired menu. It provides a nice contrast to the traditional areas of the pub and really is a great hit with the younger customers as well as families.”
The Terminus is being marketed through Colliers International, which notes big growth potential in the area, including recent approval for 11 and 12-storey buildings nearby, also on Queens Parade.
“Very rarely does a true food and beverage pub of this scale get offered to the market,” said Colliers’ Guy Wells.
“The strength of trade witnessed over recent years is testament to the quality establishment that has been developed by the vendors. With a focus on craft beers and numerous trading spaces, the Terminus Hotel appeals to all facets of the hotel market.”
Located on the corner of Queens Parade and Brennand Street, North Fitzroy, the Terminus boasts a public bar and craft beer bar, dining room, courtyard, 1st floor function room with adjoining kitchen and manager’s residence – with 26-plus years remaining on the lease.
It is being offered via an Expressions of Interest campaign, closing Wednesday, 23 September.
