Victoria’s pub market is displaying strong investment appetite, with the purchase of Bells Hotel in South Melbourne leading a trio of pub sales valued at $26m.
Both The Kent Hotel in Carlton and The Queenscliff Brewhouse were also acquired in a run of sales conducted by Will Connolly at JLL Hotels & Hospitality.
Sparking interest among some of the state’s more prolific pub operators, Bells Hotel was presented to the market via a public expression of interest campaign. The freehold was purchased by The Saxon Group, led by former CUB CEO Peter Filipovic and brothers David and Merv Shannon.
Having undergone a multi-million-dollar transformation at the hands of long-term owner Sam Tresise, Bells Hotel boasts diverse revenue streams across food and beverage, gaming and events income. Following its refurbishment, the hotel features twelve distinct spaces including an open-air rooftop with panoramic views of Melbourne.
In another encouraging transaction, The Kent Hotel was acquired by experienced publican Michael Thiele, whose current operations include the Hardimans Hotel in Kensington, following a competitive off-market process.
Located in the Rathdowne Village precinct less than three kilometres from Melbourne’s CBD, the pub has a strong reputation as a food and beverage-led venue, with plans already underway to commence significant refurbishments.
Finally, the freehold of The Queenscliff Brewhouse, formerly known as the Esplanade Hotel, was also sold, having undergone an extensive refurbishment.
Also handled in an off-market transaction, the acquisition of the Queenscliff pub follows a string of coastal pub sales in southwestern Victoria in recent years, including the Lorne Hotel, Wye Beach Hotel, Apollo Bay Hotel and Whalers Hotel Warrnambool.
Will Connolly, Senior Vice President, JLL Hotels, stated: “This significant run of sales to commence the year reinforces the growing sense of renewed appetite shown by some of our industry’s largest stakeholders.
“Whilst our market has had to deal with both economic and industry related legislative headwind, the evidence clearly shows that 2025 will prove to be a year of welcome resurgence for market activity across the state, with JLL Hotels & Hospitality Group poised to announce further Victorian pub sales in the coming weeks.”
