Summary
FOR SALE: HIGH-PERFORMANCE HOSPITALITY ASSET
Location Details
420 Sydney Road
High-profile, high-footfall corridor in the heart of Brunswick’s hospo & nightlife district. Surrounded by complementary venues, cultural institutions, & public transport access, venue benefits from sustained traffic & a strong local catchment.
Potential
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
Skills
Business Type: Hospitality / Live Music / Licensed Venue
Location: 420 Sydney Road, Brunswick VIC
Licensed Capacity: 900 patrons | Liquor Licence to 2am (Fri–Sat)
Lease: Long, secure lease in place with further option
Sale Price: POA
Sale Type: Business Only – Asset Sale (No Freehold)
Employees
OPERATIONAL FOCUS:
• Live music and ticketed events
• Casual dining and weekly food promotions
• Private functions and group bookings
• Regular programming: DJs, trivia, community events
Reason for Sale
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
About the Business
Offered for sale is The Penny Black, a highly recognisable & 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, & a well-established operational framework.
With a liquor licence for up to 900 patrons & 2am trading rights, the venue includes multiple indoor & outdoor service zones, a dedicated live music bandroom, a large-format beer garden, & a full commercial kitchen. It has operated successfully for over two decades & remains a high-traffic, high-demand destination for live entertainment, casual dining, & 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, & enhanced event programming.
THE VENUE:
• Licensed for 900 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, & green room
• Expansive Outdoor Beer Garden with private booth seating, heating, & decking
• Full Commercial Kitchen including walk-in cool room & professional-grade appliances
• Configured to support concurrent trading zones & events
HIGHLIGHTS
• Established Venue with Brand Recognition:
Over 20 years of trading history with a loyal customer base & strong reputation across Melb’s Inner-North
• Premium Location:
Positioned within one of Victoria’s most active & evolving lifestyle precincts with excellent transport connectivity & strong surrounding demographics
• Revenue Diversification:
Income generated across dine-in, bar trade, entertainment, & private hire — with significant capacity to scale the function & event offering
• Strong Physical Asset Base:
Fully fitted-out premises with high-spec infrastructure including bars, stage, kitchen, & AV systems — mitigating future capex
• Scalable Operations:
Potential for expansion of trading hours, function volume, curated experiences, & even multi-site brand extension under new ownership
• Favourable Lease Terms:
Secure lease with attractive lease conditions relative to the venue’s footprint & position.
• Experienced Staff & Management in Place:
Strong team structure allows for a seamless transition to new ownership
History
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.”
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