Hospitality giant lists trophy pub with long leaseback
Australian Venue Co is offering a classic set and forget investment – Sunbury’s oldest pub, the Ball Court Hotel.
The hospitality behemoth, since 2023 owned by Hong Kong’s PAG, can expect about $14 million from the leaseback deal.
It seized control of the property from HPI after that pair acquired eight freehold going concerns in 2022.
AVC also recently completed a $4m renovation of the entire 1870s venue, able to host 200, with several bars, a beer garden and drive thru bottle shop.
There is also a gaming room with TAB services.
Built on the site of the Farmers Arms Hotel – the Ball Court is Sunbury’s last standing 19th century pub.
Once a satellite suburb 38 kilometres north west of the CBD, the suburb is now considered part of metropolitan Melbourne.
The deal comes five days since we reported AVC sold the Queenscliff Brewhouse with a leaseback and commitment to renovate.
Set, forget trophy
The leaseback for the Ball Court Hotel at 52-60 Macedon Street is for an initial 15 years. Starting annual rent is $800,000 ex-GST and outgoings.
The L-shaped site spreads 3807 square metres, zoned Commercial 1, offering longer term development upside.
The incoming owner will also be able to claim depreciation benefits, according to Cushman & Wakefield marketing agent, Daniel Wolman, who is representing AVC with Raphael Favas, George Davies and Oliver Hay.
Subscribe to our newsletter a the bottom of this page.
