A group of pub-owning AFL football luminaries that includes St Kilda captain Nick Riewoldt have decided to exit the hotel game.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Riewoldt and several other AFL stars including Wayne Campbell, Brendon Gale, Stuart Wigney and former Richmond forward turned-commentator Nathan Brown form part of a syndicate that owns a traditional-corner city pub, the popular Waterside Hotel on Flinders Street.
The three-storey brick pub with two bars, 35 bedrooms plus a cellar built in 1853, has been put on the market with price expectations of about $15 million, according to CBRE city sales' Scott Callow.
The sporting syndicate purchased the pub for $3.85 million in January 2004, documents show.
The freehold will be sold with a short-term two- to three-year leaseback to the pub's operators, Mr Callow said.
It follows another listing of a well-known pub with similar price expectations, the iconic Continental Hotel in Sorrento, owned by the Di Pietro family.
The National Trust-classified Continental was built in 1875 and is the only four-storey limestone structure intact from that period. It has a 3500 square metre landholding with a rear car park, and views over Port Phillip Bay.