The Laurel Hotel is a popular Ascot Vale pub that has been in existence since 1853 making it one of the oldest Pub’s in Melbourne! It is a huge venue with various areas that cater for not only the locals but large functions and events. Situated close to both Flemington and Moonee Valley Racecourses it absorbs a huge amount of trade during the racing carnival each year. This corner pub has had many renovations and refurbishments over the past 10 years, but still there is a lot of potential for the new owner.
The downstairs Sports Bar has a well designed layout with a Pub TAB with 2 EBT machines and 1 TAB Window plus multiple large screen TV’s. This is a modern Sports Bar and TAB area, being refurbished in 2017. This leads round to the Middle Bar (Lounge Bar) which has an atmosphere totally different to the Sports Bar allowing customers to choose what space suits them best to relax in and have a meal or a bet. This leads to the main entrance and on to a huge Bistro that can cater for large groups down to individual diners and private functions. It has a central bar and a private dining area at the rear for functions of up to 50 guests.
On the Upper Level of the venue there is a popular Rooftop Beer garden with retractable roof, heating, private bar, toilets and smoking space . Heading up stairs the second level of the building is split in to two. Firstly there is the function space with its own bar and toilets and smoking area that can cater for a function up to 150 guests. Then accessed from the venue car park are steps leading up to the Rooftop Beer Garden with huge wooden tables, bench seating and private side function space. There are also two other outdoor spaces, one leading off the Sport Bar and the other off to the Bistro.
To support such a large dining area there is a very large kitchen. The first section has a wood fired pizza oven (currently not being used) with preparation and serving area, fryers, grills etc. The main kitchen has walk in cool room, Combi Ovens, Dishwashing area and a fully equipped commercial set up. Leading off the kitchen there are dry stores, offices, a keg room with a glycol beer system and two entrances and 2 garages full of every item you could ever think of that a pub may need.
The Laurel Hotel has a General Licence, off premises till 11pm and on premises till 1am with a huge capacity of 525. There are fourteen years left on the lease made up of 1+6+6. Rent including GST comes in at $6210 a week with a rent review in 2020. The venue is in excellent condition with an extensive fixture and fittings list.
The Laurel Hotel needs an experienced operator that can build on what is already there and take it to the next level. There are multiple revenue streams with plenty of opportunity to improve. There is consistent income of over $35,000 a week from the bistro and bar (with weekly income summary sheets) and the function income to be added on top that. There are a detailed set of books and POS income reports and so the vendors are asking for offers for this exclusively listed opportunity.
This venue is now SOLD.
