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One of Australia’s most iconic locations is hitting the market at an eye-watering price that will break record real estate prices – so is it worth it?
- Melbourne’s iconic Esplanade Hotel, better known as The Espy, is up for sale
- Its $70 Million Price Tag Would Make It Victoria’s Most Expensive Pub Sale Ever
- It has 12 bars on four levels, two restaurants and two live music venues
- A who’s who of rock royalty played there and it also hosted SBS’s RocKwiz
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Melbourne’s famous live music venue, the Hotel Esplanade, or as it’s much more commonly known as ‘the Espy’ is up for sale, but it’s not about song.
The famous seaside hotel in the southeastern suburb of St Kilda has a price tag of $70 million, which would make it the most expensive pub in Victorian history.
For that dazzling amount of money, a buyer gets 12 bars on four levels, two restaurants, beer gardens, and two live music venues with a big chunk of rock ‘n’ roll history.
Melbourne’s famous pub and concert venue, the Hotel Esplanade, better known as the Espy, is up for sale
The seaside hotel has beer gardens, two restaurants and 12 bars served on four levels
The Gershwin Room served as the studio for the SBS music trivia program RocKwiz, which ran from 2005 to 2016.
Hostess Julia Zemiro once served as a waitress at the Espy and Brian Nankervis led the live band for the 177 episodes, which featured a huge range of both local and international stars.
Some of the acts that have graced, or perhaps disgraced in the best rock and roll tradition, the Espy include Beasts of Bourbon, Things of Stone and Wood, Yothu Yindi, Men at Work, Hoodoo Gurus, Boom Crash Opera, Tim Finn, The Galvatrons and Tex Perkins.
Paul Kelly recorded an album on Live at the Continental and the Esplanade in 1995 at the hotel and Scott Marsh painted the singer/songwriter in 2019 as a giant mural on a back wall of the hotel.
The Espy has been a part of seaside life in the Melbourne suburb of St Kilda since 1878
The hotel went through difficult times in 2015, but the current owners have thoroughly renovated all areas
The hotel was built in 1878 as a luxury resort.
By 2015, it had run into trouble and was suddenly boarded up, with the building gutted and only the Gershwin Room opening to host the occasional concert.
It was acquired in 2017 by Melbourne-based hospitality group Sand Hill Road and they have thoroughly renovated all the rooms in the property.
“I think it’s the most special old hotel in the world,” Matt Mullins, spokesperson for Sand Hill Road, told Nine news.
Hostess Julia Zemiro, who worked as a waitress at the Espy, fronts one of the 177 episodes of the SBS music trivia show RocKwiz, which was featured on the Espy
Australian singer/songwriter Paul Kelly has recorded an album at the Espy and painted a mural on a back wall
“We loved every second of it, if you’re lucky enough to own the Espy it’s such a privilege.
‘The Espy deserves to hold every record, this place is the holy grail for any pub in Australia.
“Ultimately, this place belongs to the thousands and thousands and thousands of people who have been home for so many years and will do so for the next 100 years.”
The Espy has hosted a who’s who of Australian and foreign rock royalty in its two live music venues
The $70 million will purchase the building with the hotel’s operations managed by the US-backed Australian Venue Co, which employs 150 employees and pays $3.1 million in rent per year.
Previously, the highest price paid for a Victorian pub was $43 million for Tomasetti House in Melbourne CBD in 2021.
The Espy can accommodate 1700 gamblers at a time in the different sections.