Purvies: Pakenham watering hole to reopen as traditional pub after being saved by locals for $7m+
Pakenham’s historic hotel, known recently as the Drake Tavern, has sold for more than $7m. Picture: The Drake Tavern
A group of Pakenham locals have banded together to save the suburb’s iconic local pub, colloquially known as ‘Purvies’, amid a growing trend of restoring historic watering holes to traditional roots.
The Pakenham Hotel was rebranded as the Drake Tavern, a modern gastropub-style bistro, 17 years ago before shutting its doors in April when its owners deemed the business “unviable” off the back of Covid-19 lockdowns.
While they initially planned to lease the venue out and convert it into medical and childcare facilities, a “born and bred” local real estate agent stepped in to save the institution in an effort to revert it back to a traditional-style pub.
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Barry Plant Pakenham director Dan O’Loughlin said he had many fond memories of the hotel when growing up in the area and wanted to see it remain as an “establishment for other people to have the same enjoyment”.
“We certainly hope it will (return as a traditional pub), the demand is here,” Mr O’Loughlin said.
“It would be great to see the pub back up and thriving again, that’s definitely what we’re all hoping for.”
The historic pub has operated recently as a modern gastropub-style bistro. Picture: The Drake Tavern
It was converted about 17 years ago. Picture: The Drake Tavern
After the Pakenham agent fielded interest from a handful of buyers, a consortium of seven locals with pub and hospitality backgrounds together purchased the 144-year-old hotel in late June.
Mr O’Loughlin was tight-lipped on the sale price, however industry sources revealed it to be just above $7m.
It comes as more converted hotels return back to their historic roots after an increased demand among patrons for old-school watering holes.
JLL Hotels & Hospitality Group vice president Will Connolly said traditional pubs had always been appealing to buyers, but publicans were now identifying a “more nostalgic” dining trend.
The site will remain a pub after a group of Pakenham locals purchased the site in early June. Picture: The Drake Tavern
Picture: The Drake Tavern
“The public are leaning towards that more nostalgic view of a traditional pub and publicans are now identifying that’s what the public is seeking, so that’s what they’re delivering,” Mr Connolly said.
“With the cost of living the way it is right now, families are also looking to have their special occasions at traditional pubs as opposed to fine dining experiences.”
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