Monsoons Darwin will change hands for the first time in 16 years with the off-market deal by Savills Hotels adding to the national portfolio of Australian Venue Co.
Located on Mitchell Street, renowned nightspot Monsoons has a rich history with locals and tourists alike, with the popular restaurant, bar and nightclub being an icon on the Darwin hospitality landscape.
The deal was brokered by Brent McCarthy of Savills, with Australian Venue Co. officially acquiring Monsoons, due to settle in February.
David Williams of Tropics Holdings said they have owned the venue since 2002, and in this time it has proven to be a fantastic venue for Darwin residents and visitors.
“We would only sell with our management team in place, and to such a professional hospitality group as AVC,” Mr Williams said.
Australian Venue Co. prides itself on its portfolio of unique brands, and with that in mind the hospitality group described Monsoons as the perfect fit.
Monsoons marks the second acquisition for Australian Venue Co. in Darwin, with AVC having recently acquired Shenanningans, a thriving Irish Bar and restaurant also located on Mitchell Street.
“Over the last 3 years, we’ve seen remarkable growth as we’ve adopted and created some of the most exciting brands in the Australian hospitality industry,” said Paul Waterson, Group CEO of Australian Venue Co.
“Monsoons in Darwin is an institution, so we are eager to continue growing its celebrated reputation,” Mr Waterson said.
To discuss the sale in more detail contact Brent McCarthy of Savills Hotels via the below details.
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