<p style=""><span style="color:rgb(0, 0, 0);">Richmond is one of Melbourne’s most dynamic and sought-after inner-city suburbs, situated just 3 km east of the CBD.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Richmond is renowned for its vibrant mix of residential, commercial, and industrial zones. The area is a retail and hospitality powerhouse, home to key precincts such as Bridge Road (fashion outlet shopping), Swan Street (a thriving bar and restaurant scene), and Victoria Street (a vibrant Vietnamese food district known as “Little Saigon”). Its commercial strength is reinforced by a high presence of professional services, creative agencies, tech firms, and health-related industries.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Its prime location offers unmatched access to the city’s core via multiple public transport options. Richmond has four train stations: North Richmond, West Richmond, East Richmond, and Richmond. The latter is the suburb’s major hub located on the easternmost point of Swan Street. The suburb is serviced by five trams from the CBD (12, 109, 48, 70 and 75). The 78 tram runs from north to south via Church Street. These tram lines on key streets such as Swan, Bridge and Victoria, and arterial roads that connect the area to surrounding suburbs.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">With a population of approximately 30,000 residents, Richmond attracts a diverse demographic. The suburb appeals to young professionals, students, creatives, and families due to its mix of lifestyle offerings, proximity to employment hubs, and excellent connectivity. The median house price in Richmond sits around $1.5 million, reflecting strong demand and consistent capital growth over time. Apartment living is also prominent, with a median price of $610,000, making it popular among investors and first-home buyers alike.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"> Sporting culture is another pillar of Richmond’s identity—it’s home to the iconic Melbourne Cricket Ground (MCG), Punt Road Oval, and AAMI Park, all within walking distance. Additionally, the suburb boasts abundant green spaces such as Citizens Park and Barkly Gardens, adding to its appeal for families and pet owners.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Richmond continues to see significant residential and commercial development, particularly in mid-rise apartment projects and office conversions. The ongoing gentrification of the suburb, coupled with growing demand from tech and professional service industries, is driving up rental yields and capital growth. From an investment perspective, Richmond benefits from strong demand across both residential and commercial markets, contributing to consistently low vacancy rates and rental resilience. It forms part of a land-constrained, high-demand inner-city ring, where limited supply has underpinned annual capital growth of approximately </span><span style="color:rgb(0, 0, 0);"><b>6.1% over the past decade</b></span><span style="color:rgb(0, 0, 0);">. Ongoing urban renewal projects and rezoning initiatives have attracted a wave of modern mixed-use developments, further enhancing livability and long-term investor appeal. </span><span style="color:rgb(0, 0, 0);"><b>Church Street</b></span><span style="color:rgb(0, 0, 0);">, in particular, remains tightly held, with very few commercial freeholds coming to market, reinforcing its position as a prized and rarely traded commercial precinct.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Church Street, Richmond</b></span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Church Street runs north–south through the heart of Richmond and is a key commercial and lifestyle corridor in Melbourne’s inner east. This stretch is known for its</span><span style="color:rgb(0, 0, 0);font-weight:normal;"> high-end furniture and design showrooms, boutique office spaces, and a strong hospitality offering, which includes some of Melbourne’s best-known cafes, restaurants, and pubs. The street connects to major arterials such as Swan Street, Bridge Road, and Victoria Street, placing it at the centre of Richmond’s activity and providing exceptional accessibility. Church St sits Cremorne’s “Technology Precinct” – home to major Australian Corporates – Australia P</span><span style="color:rgb(0, 0, 0);">ost, Seek, Carsales, Reec</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Richmond’s combination of proximity to the city, strong infrastructure, diverse economy, and lifestyle appeal makes it one of Melbourne’s most consistent performers for property investment.</span></p>

<p style=""><span style="color:rgb(0, 0, 0);"><b>Public House Richmond</b></span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Public House Richmond is a high-profile hospitality venue located in the heart of Melbourne’s premier nightlife and dining precinct along Church Street in Richmond. In 2020, the venue underwent a major transformation, with a full-scale renovation and the addition of two new levels at a reported cost of $4.5 million. This significant investment has elevated Public House into one of the most well-appointed and visually striking venues in the inner city, blending sleek design, rooftop entertainment, and large-format function capabilities.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">The venue has consistently demonstrated its popularity and operational strength. In 2022, Public House ranked as the second most frequented late-night venue in Melbourne based on Uber drop-off data, highlighting its sustained ability to attract large volumes of patrons throughout the week. This level of traffic reflects both its local community presence and widespread appeal across Melbourne’s broader nightlife scene.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Public House has built strong brand equity through collaborations with leading global and national names such as Red Bull, Peroni Nastro Azzurro, Patron Tequila, Grey Goose Vodka, Bacardi Rum, and Mumm Champagne, positioning itself as a desirable partner for high-end promotional events. The venue also maintains a strong presence within Melbourne’s major social and sporting events calendar, hosting branded experiences aligned with the Melbourne Cup, Spring Racing Carnival, and Tennis Australia.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">Corporate and branded events are a key revenue stream for Public House, with a diverse portfolio of past activations hosted on-site. Brands such as Bondi Sands, New Balance, Barry Seltzer, Wesfarmers, Coles, Car Sales, Fitness First, and Hawthorn Football Club have all engaged the venue for bespoke events. This highlights its dual function as both a hospitality destination and a corporate events space capable of servicing premium clientele.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Australian Venue Co. (AVC)</b></span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Overview</b></span></p><p style=""><span style="color:rgb(0, 0, 0);">Australian Venue Co. (AVC) is one of Australia’s largest and most prominent hospitality groups, operating an extensive portfolio of over </span><span style="color:rgb(0, 0, 0);"><b>200 venues</b></span><span style="color:rgb(0, 0, 0);"> across Australia and New Zealand. Founded in 2017, AVC has rapidly grown through strategic acquisitions and consistent venue innovation, establishing itself as a leader in the pub, bar, and dining space.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>National Footprint &amp; Brand Strength</b></span></p><p style=""><span style="color:rgb(0, 0, 0);">AVC’s portfolio spans every Australian state and territory as well as New Zealand, featuring a diverse range of assets — from heritage pubs and waterfront venues to trendy rooftop bars and premium dining destinations. Key locations include iconic venues like </span><span style="color:rgb(0, 0, 0);"><i>The Espy</i></span><span style="color:rgb(0, 0, 0);"> in St Kilda (VIC), </span><span style="color:rgb(0, 0, 0);"><i>The Winery</i></span><span style="color:rgb(0, 0, 0);"> in Surry Hills (NSW), </span><span style="color:rgb(0, 0, 0);"><i>The Regatta Hotel</i></span><span style="color:rgb(0, 0, 0);"> in Brisbane (QLD), and </span><span style="color:rgb(0, 0, 0);"><i>The Aviary</i></span><span style="color:rgb(0, 0, 0);"> in Perth (WA).</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);">This expansive presence not only demonstrates AVC’s ability to operate successfully across varied markets, but also speaks to its robust operational model and deep understanding of local demographics and trends. In Victoria alone, AVC operates more than </span><span style="color:rgb(0, 0, 0);font-weight:normal;">60 venues</span><span style="color:rgb(0, 0, 0);">, reinforcing its significance in the Melbourne hospitality scene.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Financial Backing &amp; Performance</b></span></p><p style=""><span style="color:rgb(0, 0, 0);">AVC is backed by private equity gian</span><span style="color:rgb(0, 0, 0);font-weight:normal;">t KKR</span><span style="color:rgb(0, 0, 0);">, which has provided the financial firepower to support its aggressive expansion strategy. This backing, combined with AVC’s operational performance, positions the group as a highly secure tenant with strong leasing covenants. In FY2023, AVC reported year-on-year revenue growth and a consistent increase in patronage, reflecting strong consumer loyalty and post-COVID recovery success.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Awards &amp; Recognition</b></span></p><p style=""><span style="color:rgb(0, 0, 0);">AVC and its venues have earned multiple awards for excellence in hospitality, including AHA awards for Best Pub, Best Venue Renovation, and Best Live Music Venue. Their flagship venue, The Espy, is frequently listed as one of Melbourne’s most iconic nightlife destinations.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Venue Quality &amp; Fit-Outs</b></span></p><p style=""><span style="color:rgb(0, 0, 0);">Each AVC venue is designed with a strong focus on customer experience, with significant investment made into design, refurbishment, and innovation. Fit-outs are typically high-quality and tailored to the venue’s character, resulting in visually impressive and operationally efficient spaces. This high standard of presentation adds value to the property and enhances customer attraction and retention.</span></p><p style=""><span style="color:rgb(0, 0, 0);"> </span></p><p style=""><span style="color:rgb(0, 0, 0);"><b>Why AVC is a Strong Tenant</b></span></p><p style=""><span style="color:rgb(0, 0, 0);">• </span><span style="color:rgb(0, 0, 0);"><b>Reliable Covenant</b></span><span style="color:rgb(0, 0, 0);">: National presence, financial backing by KKR, and strong revenue growth make AVC a low-risk tenant.</span></p><p style=""><span style="color:rgb(0, 0, 0);">• </span><span style="color:rgb(0, 0, 0);"><b>Long-Term Commitment</b></span><span style="color:rgb(0, 0, 0);">: AVC typically commits to long lease terms with options, reflecting their investment in venue infrastructure and branding.</span></p><p style=""><span style="color:rgb(0, 0, 0);">• </span><span style="color:rgb(0, 0, 0);"><b>Value-Add</b></span><span style="color:rgb(0, 0, 0);">: AVC’s venues significantly increase foot traffic and surrounding precinct activation, positively impacting nearby businesses and increasing location desirability.</span></p><p style=""><span style="color:rgb(0, 0, 0);">• </span><span style="color:rgb(0, 0, 0);"><b>Resilience</b></span><span style="color:rgb(0, 0, 0);">: Despite industry-wide pressures during the COVID-19 pandemic, AVC managed to weather challenges through diversified operations and financial support, demonstrating strong business resilience.</span></p>

<p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>When was the build completed? </b></span><span style="color:rgb(0, 0, 0);"> 2000</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>When was the fit-out completed</b></span><span style="color:rgb(0, 0, 0);"> - $4.5milion uplift in 2020 - T</span><span style="color:rgb(33, 33, 33);">he</span><span style="color:rgb(0, 0, 0);"> tenant (AVC) will be installing a lift and retractable roof for the top floor</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Owner reason for selling</b></span><span style="color:rgb(0, 0, 0);"> - Cashing out, Health</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Security</b></span><span style="color:rgb(0, 0, 0);"> - 137,500 - 3 months’ rent</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Are the seller and tenant related parties?</b></span><span style="color:rgb(0, 0, 0);"> No</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>How long has the current tenant been on site?</b></span><span style="color:rgb(0, 0, 0);"> 12 years</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Flood zone</b></span><span style="color:rgb(0, 0, 0);"> - No</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Unapproved structures on Site? </b></span><span style="color:rgb(0, 0, 0);font-weight:normal;">-No</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Any maintenance requirements?</b></span><span style="color:rgb(0, 0, 0);"> - No</span></p><p style="padding-left:5.4pt;"><span style="color:rgb(0, 0, 0);"><b>Strata asset</b></span><span style="color:rgb(0, 0, 0);"> - No, freehold</span></p>

Harlow Bar, 447 Church Street Richmond $532,785 1100sqm $484psqm Fargo & Co, 214-216 Swan St, Richmond $476,655 542sqm $879psqm

Download Write Up PDF