The Espy is one of eight venues involved in the massive deal.
Just a few years after Sand Hill Road Group bought and revamped St Kilda’s iconic Esplanade Hotel, the venue has changed hands once again in a reported $100 million-plus deal.
As part of the deal, Wall Street-backed Australian Venue Co acquired eight of Sand Hill Road Group’s venues, including The Espy, the Garden State Hotel, The Posty, Bridge Hotel, Holliava, Richmond Club, the Prahran Hotel and Terminus.
“We have long admired the work of Sand Hill Road and everything that they have achieved in re-imagining and restoring rundown pubs,” said Australian Venue Co CEO Paul Waterson.
“It is a privilege to be entrusted with ownership of these beloved Melbourne establishments and to add such an innovative and driven approach to our group.
“Like us, the Sand Hill Road team have worked closely with local communities as they have operated and refurbished these iconic Melbourne establishments. We look forward to taking on responsibility for maintaining these core values and enhancing their legacy.”
The eight former Sand Hill Road Group-owned venues join Australian Venue Co’s impressive slate of venues, including Melbourne’s Newmarket Hotel, The Provincial and Perseverance, Sydney’s Bungalow8, The Forresters and The Loft and Brisbane’s The Wickham, Regatta Hotel and Fridays.
Here’s looking to what The Espy’s next chapter holds.
Never miss a story. Sign up to Beat’s newsletter and you’ll be served fresh music, arts, food and culture stories three times a week.