Landmark ‘precinct’ pub Bells has come to market, Sam Tresise presenting what is likely to be one of the most contested offerings of 2024 in the tightly held Victorian market.
A mainstay institution of South Melbourne, since 1874 Bells Hotel has resided on a commanding corner of the busy junction of Moray and Coventry streets, when a hotel licence was first granted to HW Freer.
After changing hands several times, in 1935 Annie Bell took over. The Hotel remained in the Bell family until 2013, when it was purchased by Tresise.
Catering to the area’s evolving demographic, it has developed a reputation as one of Melbourne’s most dynamic venues, offering a diverse range of experiences across twelve distinct spaces, including the open-air ‘Rooftop’, boasting panoramic views of Melbourne’s skyline.
Set on a generous 1,161sqm site, the multi-faceted operation enjoys a strong mix of revenue streams, reporting high volume through food & beverage, a gaming operation with 40 machines, and functions and events.
Bells incorporates the high-profile ‘Main Hall’, which hosts some of Melbourne’s most exclusive corporate and sporting events.
“Our goal from the outset was to create a lifestyle, entertainment, event, food and sports experience all in one precinct and I am so proud of the team who have delivered all of this time and time again,” explains Tresise.
“It’s literally a ‘choose your own adventure’ any day of the week.”
Relaying it has been “a wonderful journey” the popular Melbourne publican sees his work at Bells as done, and he is ready to move on to a new challenge. No longer proprietor of the George Hotel at Richmond, Bells marks the end of the collection.
But keeping a “passion for the industry” he may not be done yet.
An incoming operator stands to benefit from the blue sky of the recently completed extensive renovations and additions, which have created further trading zones.
Tresise has engaged JLL Hotels’ Will Connolly and Lachlan Persley, who see the sale as opportunity to be part of the recent resurgence of Melbourne’s pub market, which has traditionally been one of the most tightly held in the country.
Agents anticipate strong interest from a diverse profile of buyers, ranging from corporate hospitality groups and local operators, to astute investors and land-bankers.
“Bells Hotel has firmly established itself as one of Melbourne’s most impressive pub offerings given its expansive footprint and voluminous trading zones, presenting a remarkable trading potential that truly sets it apart,” says Connolly.
The freehold going concern of Bells Hotel is being sold via Expressions of Interest, closing Thursday, 22 August.
