Iconic Richmond bar and restaurant

The home of Melbourne’s Bouzy Rouge has been listed for sale by longtime hoteliers, David and Angela Carey. 

The freehold property of the Bouzy Rouge is anticipated to sell at pricing in excess of $4.25 million.

Current tenants Jose and Sandra De Oliveira took over the former Dover Castle Hotel approximately 20 years ago and transformed it into the Bouzy Rouge, an iconic Richmond restaurant and bar where business remains as usual. 

Located at 470 Bridge Road, the property sits on a 325sqm site and includes a mix of spaces with street side dining, front bar, dining room and covered courtyard/beer garden, whilst the first floor has two separate function areas.

CBRE Hotel’s Mathew George and Scott Callow along with Teska Carson’s Matthew Feld and Luke Bisset are managing the sale via an Expression of Interest campaign closing May 23, 2023. 

“The rental income of the Bouzy Rouge is $180,290pa with the current lease expiring in January 2026 and a further two-year option thereafter. This property might suit an owner-operator, likely someone from the hospitality sector who’s willing to collect rent for the short term and then pick up a prized freehold pub,” Mr George said. 

“We have seen continued levels of strong activity in our sector over the past 12 months and anticipate high levels of interest in this one, Richmond is the one suburb in town where every publican wants a pub but they’re hard to find.” 

Mr Feld added that, “Richmond is a vibrant inner-city suburb with a mix of commercial, retail and residential offerings which add to the growth and desirability of this freehold investment.”