At some point in everyone’s adult life, the phrase “buy a pub” floats into their brains. Why it occurs is inexplicable. It comes without warning, without any knowledge as to how to do such a thing, and certainly comes at a time when it isn’t even remotely a financial possibility. But it happens to everyone, at some point, and the idea must be entertained.
But if you happen to be one of the lucky few who cop that thought and are actually able to act on it, then pay attention: one of the more iconic inner-Melbourne pubs is on the market for the first time in nearly 50 years.
The Lucky Coq in Windsor, sitting on prime real estate on the corner of High and Chapel St, is officially on the market.
The owning Canvea family has decided it’s time to move on, after originally purchasing the venue in the 1970s.
Since the building was under family ownership, it’s operated under a variety of different guises. Initially, the family waited out 20 years for a pre-existing lease to expire before they could begin operating the pub as their own.
From 1991 until 2005, the property operated as the Duke of Windsor, a famed live venue that helped shape the careers of a swathe of Melbourne bands including, remarkably, Jet. Whether that sits as a selling point or not is up to your own interpretation really.
Nowadays the venue operates as Lucky Coq, hosting regular comedy and music and known largely to locals as being a ready source of $4 pizza.
Currently there’s a 12-year lease in place, held by the Coq’s operating company Colonial Leisure Group. So whoever winds up buying it will have to wait until 2030 before they can do whatever they jolly well like with the place (which should provide some sense of relief for those of you who have rushed into this article in a blind panic, concerned that their beloved Coq was going to be bulldozed imminently).
And while there has been a huge amount of interest in it from developers, listing agents believe whoever ends up buying it will be local. Which is good. Very good.
So here’s the kicker: If you fancy yourself a pub owner, you’ve gotta be a) quick, and b) willing to wait a while before you can actually do anything with it.
Also you’ve gotta have a casual $7.5million lying around, because that’s apparently what the sale is set to bring in.
But if you do, then you’re probably not finding out about commercial property listings from us. So go off, we guess.
You can peep the Commerical Listing for the Lucky Coq via this link.Source: RealEstate.com.au
Image: Google Maps