The lease to what is said to be Melbourne CBD’s longest standing pub, the Captain Melville, has come to market.
Located in a handsome bluestone building on Franklin Street at the northern end of the CBD, the Captain is set over two floors, comprising a large public bar with alfresco dining, sizeable indoor courtyard, function areas, and private bars upstairs with direct access to the extensive balcony.
The site is surrounded by accommodation hotels, commercial buildings and universities and directly opposite the under-construction Metro Tunnel Project’s new State Library Station.
Able to cater to 355 people, patronage typically comes from office workers, tourists, trades people from surrounding construction – and hospitality workers, courtesy of its prized 24-hour liquor licence.
Paul Scanlan has owned the Captain for 15 years, and in recent years has refurbished extensively, engaging Breathe Architecture for a design that pays homage to Victoria’s gold rush and mass immigration while respecting the building’s historical significance.
“We worked closely with the designers to deliver a unique fit-out that was erected from materials that were on hand during the time of the gold rush, and this became the framework throughout the process,” explains Scanlon.
“Captain Melville is currently enjoying a post-COVID resurgence,” furthers Lachlan Persley of JLL Hotels, marketing the asset with colleague Will Connolly.
Agents are expecting interest from parties identifying the burgeoning upside at the Captain.
“Once the new State Library Station is open to the public, the immediate area will greatly benefit from the huge uplift in pedestrian traffic, which will no doubt translate into increased revenue for the hotel.”
The leasehold interest in the Captain Melville is being offered for sale by Private Treaty.
