The iconic corner site of beloved Richmond pub-turned-restaurant Bouzy Rouge is attracting interest from investors, developers and operators after hitting the commercial market last week.
Listed with more than $4.25m price hopes, the 470 Bridge Rd pub freehold is currently leased to Mediterranean eatery and late-night cocktail bar Bouzy Rouge with a rental income of $180,290 a year.
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Tenants Jose and Sandra De Oliveria reimagined the former Dover Castle Hotel into the quirky diner about 20 years ago, and have a lease in place until January 2026 with the option to extend it for a further two years after that.
CBRE Hotel’s Matthew George said he was fielding interest from “a wide range” of investors, developers and operators who were looking to potentially “further enhance” the site in the future.
“The corner position, zoning flexibility of Commercial 1 zone and street frontage of 42m suggests it can cater to a multitude of uses,” Mr George said.
“This property might suit an owner-operator, likely someone from the hospitality sector who’s willing to collect rent for the short term and then pick up a prized freehold pub.”
It’s currently owned by hoteliers David and Angela Carey, while Mr George has the listing with CBRE’s Scott Callow in conjunction with Teksa Carson agents Luke Bisset and Matthew Feld.
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The property spans 325sq m encompassing a multitude of spaces, including outdoor dining, a front bar, dining room and undercover beer garden, plus two separate function areas on the first floor.
“We have seen continued levels of strong activity in our sector over the past 12 months,” Mr George added.
“Richmond is the one suburb in town where every publican wants a pub but they’re hard to find.”
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emily.holgate@news.com.au
Originally published as Richmond: Site of Bouzy Rouge bar turned restaurant on Bridge Road hits the market
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