AVC snaps up Northbridge’s The Court

Australian Venue Co will add The Court Hotel to its Western Australian portfolio, with owner Bree Maddox ready to move on after 18 years of operating the Northbridge venue.

Ms Maddox said it was going to be difficult to say goodbye but confirmed she would stay on as an advisor to the business after the AVC acquisition.

Despite not disclosing how far back the process started, Ms Maddox told Business News that selling The Court was a long, thought-out decision.

"It's just the right time. It's the right time for the venue. It's the right time for me, and appears to be the right time for Australian Venue Co as well," she said.

"At the moment they have offered to keep me on an advisory role because I think running a venue like this comes with a very set of unique challenges and there's also things about the venue that I still love doing, but without the whole pressure of running the entire venue.

"Over the years, and even recently, I've had opportunities in so many different areas and I've never been able to explore them because The Court has been such a big part of my life."

Ms Maddox said the transaction was expected to be finalised by the end of October.

Australian Venue Co said The Court would remain as an all-inclusive venue once the acquisition is complete, with team members invited to stay on in their roles.

Bree Maddox says it was the right time for her and The Court. Photo: Michael O'Brien.

AVC chief executive Paul Waterson said The Court acquisition was a natural fit for the Victoria-based group.

“We’ve got so much respect for what Bree and her team have built, and it will be a privilege to work with them on the next chapter for this very special venue,” he said.

“Bree is an industry leader in the entertainment and hospitality space and has had a long-term connection with the LGBTQIA+ community.

“We can’t wait to see what ideas and experience she will bring to our other venues and events, including The Wickham in Brisbane, Big Gay Day, and our entertainment offerings across the country.”

CBRE head of capital markets Aaron Desange led the transaction.

AVC operates 21 venues in Western Australia, including the Claremont Hotel, The Aviary, Market Grounds, and Raffles Hotel, following major acquisitions in the past couple of years.

Last month, PAG Private Equity struck a deal with AVC’s parent company KKR to snap up the hospitality group.

History

The Beaufort Street building was built in 1888 and has been a music venue and bar since the early 1990s.

Ms Maddox said she would work the floor every weekend for many years.

"When I started 18 years ago, it was me over here and a bunch of floor boys," she told Business News.

"It was a very, very different era; a big divide. [You] used to pretty much have to risk your life to cross the cultural center to get here so we had to become a destination venue and then we had to also work on keeping the people here.

"A few strategic moves were made back then and to turn this into a multi venue where people could come and spend their entire night but feel like they've had different experiences through the night."

The Court Hotel went through multiple renovations throughout the decades, with the most recent one to upgrade its capacity done in 2017.

"This must be one of the largest sole owner operator venues left and there's a reason for that, because it is so large," Ms Maddox said.

"Owning a venue like this, you have to be across so much. There is so many facets of what I do."

Ms Maddox said The Court has grown to a thriving business in the past 18 years and looked forward to continuing its legacy.

“I’m very confident in the ability of Australian Venue Co to be a great custodian of The Court in a way that fits with our all-inclusive community and to maintain the unique personality we have established at the venue, so that it remains the best place to party in Perth,” she said.

“I firmly believe that Australian Venue Co has a proven track record of operating venues for diverse communities and allowing each of them to flourish in their own way.

“Our long-term vision for The Court is absolutely aligned and I look forward to assisting the new owners to make a night out at The Court an even better experience in the years ahead.”