Sporting Globe owner buys historic Melbourne pub
EXCLUSIVE
The Francis family’s 35 year stewardship of one of Melbourne’s better-known suburban gaming hotels has come to an end, with Signature Hotel Group buying the Greensborough Hotel.
At 75-81 Main Street, Greensborough, the freehold going concern was offered mid-last year.
The family of the late Brian Francis purchased it in 1991.
The freehold component then cost $1.6 million.
It is selling this time around for $3.5m.
JLL Hotels & Hospitality’s Will Connolly and CRE Brokers’ Rohan Pertzel and Dan Ryan were the agents.
Mr Francis’ daughter, Michelle Hudson, has overseen the operation of the venue in recent years.
The family also owns and operates the Moe Hotel in Gippsland.
$3.5m freehold deal
Originally opened as the Farmers Arms Hotel in 1864, the timber building was demolished in 1925 and replaced with the existing inter-war Spanish Mission-style hotel (continues below).
On 1360 square metres zoned Activity Centre, on a corner opposite Greensborough Plaza, the venue includes a public bar, 200-seat bistro, function facilities and a drive-through bottle shop.
There is also a gaming room with 30 electronic gambling machines.
“Signature Hospitality Group is pleased to have acquired this outstanding freehold asset and would like to thank the Francis family, JLL and CRE Brokers for their roles in this transaction,” chief executive officer, James Sinclair, said.
“Growing up, my dad had a saddlery just a few doors down, so I’ve long appreciated this area,” according to the executive.
“We look forward to sharing our plans for the venue in due course,” he added.
Next chapter for Greensborough pub
Signature Hospitality Group is best known as the operator behind national brands The Sporting Globe, TGI Fridays Australia and, in Western Australia, the Varsity chain.
With over 50 venues, the business also operates W.J. Wills Eatery in South Melbourne and is developing its Poolhouse entertainment concept.
Greensborough is about 17 kilometres north east of Melbourne’s CBD.
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