Abbotsford’s storied Retreat Hotel will go under the hammer as a vacant freehold, to optimise the buyer pool for the development potential site.
Built in 1915, the modest and aptly named Retreat is a local landmark, on the corner of Nicholson and Stafford Streets, in suburban Abbottsford, around four kilometres out of the Melbourne CBD.
The two-storey brick building, in the style of Federation Free Style, still sports royal blue tiles out front and original leadlight windows.
It proved the perfect backdrop for the long-running Australian TV series The Sullivans, set in post-war Victoria. The pub still attracts devotees on pilgrimage.
For 15 years the leasehold was operated by the same tenant, before retirement around a year ago, at which time freehold owners the Fermanis family determined to operate it themselves for a while.
The family has partnered in pubs such as the Builder’s Arms, the Baker’s Arms, the Great Britain and The Montague, and still holds interests in a few.
The corner lot boasts favourable Neighbourhood Residential Zoning (NRZ) that could see redevelopment up to around 10 storeys.
Its development potential prompted the family’s decision to offer the Retreat to market as a vacant freehold possession, through CBRE Hotels’ Will Connolly and Scott Callow.
Speaking to PubTIC, Noel Fermanis describes the clientele as “generally older” and does like the idea of a publican making it work.
“It probably does need to attract younger people to make it successful, which we didn’t really do,” concedes Fermanis. “It’s important to attract a new market.
“Hopefully we get a pub person in there.”
CBRE’s Connolly says the Retreat is “one of Melbourne’s favourite pubs” and while a push to protect it under heritage laws has not eventuated, they will respect its history and significance in the area throughout the campaign.
“We can say without a doubt that the Retreat Hotel will be the most affordable freehold pub currently available in today’s market.
“This will allow a greater cross-section of buyers to have the ability of securing the site come auction day and utilizing the property immediately with vacant possession.”
The Retreat Hotel will go to auction Friday 2 March, at 12:30pm.
