Geelong nightclub making a comeback amid sale

Jacquelyn McCarthy and Tessa Fox with Darryn Lyons at his 50th birthday bash at Home House. Lyons sold the property in 2022 and shut the venue later, but the present owners have put it up for sale after signing up new tenants to a $250,000 a year lease. Picture: Peter Ristevski

A nightclub institution is making a comeback in Geelong as a campaign to sell the freehold title to the Home House venue has kicked off.

Celebrity photographer and former Geelong mayor Darryn Lyons closed the door to the original Home House with a massive party in 2024.

By that stage, Mr Lyons had already sold off the freehold title to the Moorabool St landmark for $4.85m in 2022.

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The freehold to Geelong’s Home House nightclub has been listed for sale.

But the property at 40-42 Moorabool St has come back on the market with a new tenant locked that is apparently preparing to relaunch the venue.

McGrath Commercial Geelong agent David Cortous and Knight Frank Melbourne agents Nathan Edgar and Chris Bolson are handling an expressions of interest campaign closing on October 16.

Price expectations for the property are between $4.8m and $5.2m.

The property comes to the market with a new five-year lease with two more five-year options on a $250,000 annual lease, plus GST and outgoings.

Darryn Lyons connection to the venue ended when the nightclub closed in 2024.

A new five-year lease has been signed with $250,000 a year, with further options available.

The two-storey building has a mix of open plan hospitality accommodation, a dance floor with a DJ booth, various bar and lounge areas, a commercial kitchen and a large balcony area looking north along Moorabool St to Corio Bay.

Mr Cortous said the property’s local owners were concentrating on other business ventures.

“It’s been at leased out and is being renovated at the moment,” Mr Cortous said.

“It’ll be an operating nightclub again, very shortly, and be relaunch. I don’t know what the name will be.”

Mr Cortous said the $250,000 a year rental provided a strong holding income, but redeveloping the site could be the long game that really pays dividends.

Planning guidelines allow for a development on the site up to 28m.

“It’s obviously an investment as is, but there’s also potential for development of that site because it’s got 28 metres height that you can build there, which is eight storeys.”

The building is part of a collection of former wool stores at the bay end of Moorabool St, including the bluestone National Wool Museum next door, and the Strachan, Murray and Shannon complex that’s converted to the Westfield shopping centre opposite.

A nightclub has operated in the venue for four decades.

Residential developments have been approved in nearby Brougham St.

250+ faces: Partying at Home House in the 2000s

“It’s in a good strip and it’s smack bang between all the other hospitality venues, which is on the waterfront and in Little Malop St,” Mr Cortous said.

“There will be some other residential developments going into that precinct as well in the future. It’s an exciting prospect.”

The two-storey brick building has an activity centre zoning opposite Westfield Geelong shopping centre and near Deakin University. The land area is 571sq m, but the building has 1145sq m of floorspace and a balcony overlooking Moorabool St.