A private owner operator has snared the leasehold interest in the Foresters Beer and Music Hall in the latest Collingwood pub deal.
Hot on the heels of the Robert Burns Hotel being acquired by Julien Moussi’s Only Hospitality Group (OHG), the Foresters Beer and Music Hall lease has changed hands in an offmarket transaction.
CBRE Hotels’ Pub Director Mathew George negotiated the sale on behalf of Craft Beer Market Pty Ltd, completing the group’s exit from the Melbourne pub business after an earlier sale of The Terminus in Fitzroy North.
George said the latest deal highlighted the continued strength in Melbourne’s F&B pub sector, following a series of recent pub deals in the surrounding area – among them the Robert Burns, The Albion Hotel, The Gem, The Leinster Arms and the Gasometer.
“We are seeing continued high demand from the hospitality sector for this area of Melbourne given the growing popularity of the city fringe as a live, work and play destination,” George said.
“A surge in high density residential development over the past decade has underpinned buyer interest in well positioned assets like the Foresters Beer and Music Hall, which occupies the well known corner of Smith Street, Collingwood and Gertrude Street, Fitzroy.”
The hotel is located on the one-time site of popular nightspot A Bar Called Barry. It offers a late night licence with patronage numbers of up to 400 people over two levels. There is also the potential to activate a rooftop beer garden with city skyline views.