Operators trade historic Bells Hotel
Sam Tresise has sold South Melbourne’s historic Bells Hotel after 12 years, a renovation and extension with trade zones.
Another operator, Saxon Group, directed by former CUB executive Peter Filipovic, with Dave Shannon and Merv Shannon, is the buyer – for $20 million.
On 1161 square metres on the north east corner of Moray and Coventry street, it contains 12 dining areas including an indoor/outdoor “main hall” popular for corporate events.
There are also bars, a beer garden, rooftop bar with city skyline views and gaming room with 40 electronic gambling machines.
The hotel licence was granted to HW Freer for what was then known as the Freer’s Family Hotel, and at 100 Bank St in the suburb.
The current building was developed in 1874.
It was renamed by Annie Bell, owner and operator from 1935.
That family held it until selling to Mr Tresise who started negotiations two years earlier (2011).
The freehold in that deal was worth $3.525m.
A renovation was completed recently.
Mr Tresise also ran Richmond’s George Hotel.
He was represented for the sale of Bells Hotel by JLL’s Will Connolly.
Also today we are reporting the freehold going concern of Fitzroy’s Napier Hotel has sold after nearly 30 year.
That deal, also between operators, is speculated to be worth c$10m.
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