Bill Toohey, who owns the nearby Laird Hotel, Collingwood, purchased the property at 226 Nicholson Street, Abbotsford following a hotly contested auction between three bidders.

Mr Toohey said: “Myself and my wife, Lyn, were drawn to the hotel not only for its character, but also for its cultural significance to the area. It deserves to be one of Melbourne’s true ‘institutions’, so we’re determined now to re-lease the hotel to an operator that shares our passion.”

CBRE Hotels’ Will Connolly, who steered the marketing campaign with colleague Scott Callow, said the campaign was met with a lot of interest from parties looking to revive the hotel.

“We were confident in the lead up to auction day that our successful bidder would be one that would want to own and operate the hotel themselves, or like Bill, who wishes to release and retain the freehold property as a strong investment,” Mr Connolly said.

“The sale of The Retreat Hotel is the first of what we believe will be a consistent supply of inner-Melbourne opportunities for 2018, as the market’s appetite continues to surge.”

Built in 1915, the federation styled two-storey pub is situated on a 308 sqm corner block and was sold by the owners of 15-years, the Fermanis family. It features ground floor dining with an open fireplace, multiple second-storey rooms, a commercial kitchen and outdoor area.

To discuss the sale in further detail phone or email Will Connolly of CBRE Hotels via the below contact details.

Click here to view Will Connolly's profile on The Hotel Conversation.

See also:

Melbourne's Montague Hotel sold in off market deal

International developers vying for St Kilda's Novotel Hotel site

Qatar Airways Acquires the Sheraton Melbourne Hotel