Offered for sale is The Penny Black, a highly recognisable and consistently performing licensed hospitality business located in one of Melbourne’s most desirable trading precincts.
Operating from a landmark heritage building on Sydney Road, Brunswick, The Penny Black represents a rare opportunity to acquire a scale venue with diversified revenue streams, brand equity, and a well-established operational framework.
With a liquor licence for up to 799 patrons and 2am trading rights, the venue includes multiple indoor and outdoor service zones, a dedicated live music bandroom, a large-format beer garden, and a full commercial kitchen. It has operated successfully for over two decades and remains a high-traffic, high-demand destination for live entertainment, casual dining, and private events.
This is a turnkey acquisition with existing management in place and substantial upside for experienced operators seeking to grow revenue through function expansion, brand development, and enhanced event programming.
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BUSINESS OVERVIEW
LOCATION:
Strategically positioned at 420 Sydney Road – a high-profile, high-footfall corridor in the heart of Brunswick’s hospitality and nightlife district. Surrounded by complementary venues, cultural institutions, and public transport access (tram and train), the venue benefits from sustained traffic throughout the week and a strong local catchment.
THE VENUE:
• Licensed for 799 patrons
• Liquor licence to 2am on weekends
• Approx. 750 sqm total venue footprint across multiple service areas
• Two Operational Bars (indoor and outdoor)
• Dedicated Bandroom with in-built stage, AV infrastructure, and green room
• Expansive Outdoor Beer Garden with private booth seating, heating, and decking
• Full Commercial Kitchen including walk-in cool room and professional-grade appliances
• Configured to support concurrent trading zones and events
OPERATIONAL FOCUS:
• Live music and ticketed events
• Casual dining and weekly food promotions
• Private functions and group bookings
• Regular programming: DJs, trivia, community events
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INVESTMENT HIGHLIGHTS
• Established Venue with Brand Recognition:
Over 20 years of trading history with a loyal customer base and strong reputation across Melbourne’s inner-north
• Premium Location:
Positioned within one of Victoria’s most active and evolving lifestyle precincts with excellent transport connectivity and strong surrounding demographics
• Revenue Diversification:
Income generated across dine-in, bar trade, entertainment, and private hire — with significant capacity to scale the function and event offering
• Strong Physical Asset Base:
Fully fitted-out premises with high-spec infrastructure including bars, stage, kitchen, and AV systems — mitigating future capex
• Scalable Operations:
Potential for expansion of trading hours, function volume, curated experiences, and even multi-site brand extension under new ownership
• Favourable Lease Terms:
Secure long-term lease with attractive lease conditions relative to the venue’s footprint and position, plus potential to renegotiate further lease options
• Experienced Staff and Management in Place:
Strong team structure allows for a seamless transition to new ownership
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GROWTH OPPORTUNITIES
• Increase private and ticketed event bookings through targeted marketing
• Develop brand further across merchandise, digital content, or satellite events
• Expand midweek trading with partnerships, themed activations, or extended menu offers
• Explore new revenue verticals: brunch service, craft beer programming, or collaborative gigs
• Consider long-term franchise or licensing models leveraging The Penny Black’s brand profile
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TARGET BUYER PROFILE
• Hospitality groups seeking a flagship asset in Melbourne’s inner north
• Experienced operators looking to expand into a large-format venue with event capacity
• Strategic investors and family offices targeting high-yield lifestyle assets
• Event or entertainment businesses seeking vertically integrated control over venue operations
• Private equity firms building hospitality portfolios with operating staff in place
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CONFIDENTIAL SALE PROCESS
A detailed Information Memorandum is available upon request to qualified parties.
Site inspections strictly by appointment only and subject to confidentiality agreement.
For further information, please contact:
Rob Clifford _0407 449 672
Nathan Lihari _0411 988 999
“This isn’t a cookie-cutter hospitality venue — it’s an institution with grit, soul, and a fiercely loyal following.”
