AVC adds St Kilda, Yarraville pubs to stable

AVC is renovating Yarraville’s Victoria Hotel.

Australian Venue Co has acquired three Melbourne leaseholds.

Australian Venue Co chief executive officer Paul Waterson said Melburnians are coming out in droves.

One – the Ball Court in Sunbury – was reported earlier this month when the freehold sold to Hotel Property Investments for $7.6 million.

The operator today said two more pubs – St Kilda’s c1891 Village Belle and the Victoria Hotel, in Yarraville – would be added to its stable.

Following settlement, expected to take place in the next five weeks, AVC will hold 38 Victorian venues.

“It’s been a challenging 18 months for the industry, but we’re a resilient business…focused on the future,” chief executive officer Paul Waterson said.

“Melburnians have missed the pub and they’re coming out in droves,” he added of the latest lockdown ending.

“These new acquisitions are beautiful community pubs and we’re excited to be part of their next chapter as we look forward to the future,” according to the executive.

“We’re excited to open their doors for a fun summer of catching up with friends and getting back to the pub” (story continues below).

The Village Belle, staring down Acland Street and renovated in 2017, rises two floors and includes a beer garden and cocktail lounge.

Following the AVC lease – at $1.458m per annum – the freehold has been listed; marketing agency JLL is expecting over $35m.

The Yarraville venue was established in 1873; the operator is intending a revamp repositioning the asset to families and sports fans.

The Ball Court was constructed in the 1870s.

Earlier this month AVC announced it would rebrand Fitzroy’s Bimbo, on Brunswick Street, as Kewpie.

In July, the operator leased the Hotham Hotel on Mount Hotham.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.