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News release


The iconic “Espy” for sale

The Esplanade Hotel, Melbourne, is being offered to market for first time in 14 years

The famous and iconic Esplanade Hotel (the “Espy”) is being offered to the market for the first time in 14 years. The famed Espy is renowned for being one of Melbourne’s best (if not the best) live music and entertainment venues in the country and is an integral part of Melbourne’s cultural and tourism scene. The hotel sits in a stunning location with uninterrupted views of Port Phillip Bay and within close proximity to the St Kilda Pier and foreshore, and entertainment and recreational venues such as the Palais Theatre, Luna Park and St Kilda Sea Baths.

An incredibly well-known part of Melbourne’s history, the Espy has continued to stand the test of time amidst a highly competitive and ever changing hospitality sector. Whilst there are endless pub and bar venues in Melbourne refurbing and reinventing themselves, the Espy continues to deliver outstanding returns which is a testament to its history, loyal standing in the community and valuable goodwill.

Mathew George of Jones Lang LaSalle’s Hotels & Hospitality Group suggested that “an opportunity such as this doesn’t come along very often, certainly not publicly. The Melbourne pub sector is very tightly held and when owners have a great pub like this they seldom want to sell it, it’s too hard to replace it with anything comparable. This venue is unique and has hosted many high profile acts such as Paul Kelly, Nick Cave, John Farnham, Public Enemy and De La Soul”. 

“To buy a well-known and respected pub like this with quantifiable goodwill (not just from locals but also domestic and international tourists), with its massive licence capacity, late night trading hours, consistent revenue streams with good business development and upside potential (STCA), this is truly an opportunity not to be missed. This pub has already proven itself for over the last 100 years and will continue to do so for the next 100,” Mr George said. 

The business is being offered for sale via a public expressions of interest campaign due to close on 20 March 2014. For more information please contact Mathew George at Jones Lang LaSalle on 0400 663 840.