St Kilda’s popular Elephant & Wheelbarrow has come to market, as long-term owners take the opportunity to concentrate on other pubs.
Located near the St Kilda foreshore, the Elephant & Wheelbarrow is a landmark local, on a prominent corner of Fitzroy Street in the popular tourist district.
The pub holds a late-trading licence and commercial kitchen, and boasts strong weekly turnover, with a long-term lease. The backpackers hostel upstairs provides for regular captive trade.
Vendors NHM Hospitality Group have run the Elephant for a number of years. The Group operates other Melbourne pubs and elected to free up capital for their remaining operations.
It is being marketed by CBRE Hotels’ Will Connolly, who anticipates plenty of interest in the well-established local.
“It’s a huge honour to be able to present to market such an iconic hospitality venue,” Connolly told PubTIC.
“It’s been quite a while since the business has been on the open market, so we’re expecting a significant amount of interest, due to its prominence in the industry – it’s one of Melbourne’s last traditional corner pubs.”
The passive freehold of the pub sold two years ago.
The leasehold is now being offered to market via private treaty, starting at $600k + stock.
