Endeavour lists Manningham Hotel site, Bulleen, from $20m

Per the report, the land is 13 kilometres from the Melbourne CBD. Besides the pub, it holds a Dan Murphy’s store and a small Endeavour building that serves as a training centre.

Tom Ryan, Knight Frank’s head of investment sales for Victoria, said the buyer gets the freehold with no tenant in place, and that redevelopment or conversion is possible if planning approval is granted. In his words: “It is the freehold interest; we’re not selling any of the operating parts of the business.”

Liquor and gaming licences are not part of the deal, and the settlement date can be negotiated. Knight Frank’s Ryan, Paul Lillis and Nick Bisset are running the expressions-of-interest process, and Charter Keck Cramer is the transaction adviser.

The outlet adds that the venue began life as the Sentimental Bloke Hotel in September 1969, a date it takes from a history printed on an old menu.

The numbers

The report puts the site at 2.784 hectares with access from two roads, next to Marcellin College and facing Bulleen Park. Three buildings together exceed 6100 square metres of gross floor area, and the zoning is residential growth.

Ryan said enquiries so far range from knock-down residential schemes to reuse of the existing buildings, and that some education and aged care groups have also looked. A leaseback of the Dan Murphy’s store could provide income for a buyer while plans are prepared, according to the report.

What’s next

The report suggests an education operator might find the land useful in an area touched by the North East Link. It says that project’s environmental assessment found small permanent land takes from three nearby schools, plus temporary use of sports fields, access roads and parking while construction runs.

No closing date for expressions of interest is given in the report. Any change of use or redevelopment would still need planning approval, as Knight Frank has said. In the same Manningham area, Balmain Group has lodged plans for 462 apartments on Doncaster Road.