Brunswick East: Hospitality and live music biz The Beast sells in less than a month [Video]

A Brunswick East building leased by well-known live music venue The Beast has sold for $3.75m, less than a month after hitting the market.

Established more than a decade ago by Melbourne hospitality entrepreneur Maz Salt, the burgers, bar and bands site at 78-80 Lygon St is also known for hosting Australia’s largest annual chilli eating championship.

A Melbourne-based investor snapped up The Beast in just 21 days, far ahead of its scheduled December 5 auction.

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Commercial real estate agent Fitzroys’ Chris Kombi, Ervin Niyaz and Ben Liu had the listing.

Mr Niyaz said the new owner viewed the address, which had been expected to fetch $3.4m-plus, as both an ideal passive investment and a landbanking opportunity.

“I think the position, sitting in Brunswick’s retail village – that little area is humming in …