Former Footscray footballer Paul Dematina’s iconic South Melbourne pub is up for sale

Longtime tenant and former footscray footballer Paul DiMattina’s Ramaro’s Hotel is on the market. Photo: Alex Koppel.

Bubbly by former Footscray footballer Paul Dimattina, South Melbourne’s iconic pub Lamaro’s Hotel is looking for someone new to carry on its legacy.

Longtime tenant, tax collector and 131-game AFL player Dimattina shares a leasehold with executive chef Geoff Lindsay.

But hotel namesake Pam Lamaro, who has owned the building for more than 20 years, is selling a freehold interest that could fetch as much as $14 million.

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The historic watering hole is located on the corner of a prime residential area in South Melbourne.

With 4% increase per year, it brings you a stable income.

The sale also includes 3 stylish upstairs apartments.

Mr. Ramaro is also known for his work as a Non-Executive Director of the Collingwood Football Club Foundation and on the Fundraising Committee of St. Vincent’s Private Hospital in Werribee.

she 273-279 Cecil Street The property includes both a popular hotel and three upstairs apartments, including the one where Mr. Ramaro lived.

Gerald Delaney, chairman of Kay & Burton South Yarra, said Ramaro sold the building because he now spends a lot of time in Byron Bay and on Phillip Island, where he has a home with his family.

“It’s a trophy building,” added Delaney. “It is located in a very unique residential area and is a very good investment for three apartments.”

The current lease is valid for an additional 8 years as part of the initial 10-year term, with the option to extend for an additional 10 years thereafter.

A 4% annual increase in pub rents could provide a steady income boost, but the next owner could choose to rent out the apartments or operate them as short-term accommodation. I can do it.

The pub first opened its doors in the 1850s, but has been known as Ramaro’s for over 20 years.

Apartments can bring additional income when rented out as residential or short-stay accommodation.

Ramaro's Hotel

Publican and former Footscray footballer Paul Dimattina shares a leasehold interest.picture j town

Regarding apartment space, Will Connolly, vice president of JLL Hotels & Hospitality Group, said buyers could “get back on track” and turn the venue back into a hotel.

There’s no price tag on the listing as this is determined by market interest, but Delaney indicated the historic watering hole could sell for “up to $14 million.”

First opened in the 1850s, Lamaro’s sits on a prime 509 sqm residential property in South Melbourne and has long been a favorite place for after-work drinks, special occasions or corporate lunches. I was.

Before embarking on the tax collector’s life, Mr. DiMattina played 131 games for Footscray Football Club between 1995 and 2003.

His family’s hospitality group operates a number of establishments throughout Melbourne, including the Blue Train Cafe at Southgate.
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Former Footscray footballer Paul Dematina’s iconic South Melbourne pub is up for sale

Source link Former Footscray footballer Paul Dematina’s iconic South Melbourne pub is up for sale

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