Pizza House Pizza House has sold its Pizza house to an Australian investor who plans to redevelop the property into a new high-rise apartment development.
Key points:Owner says the purchase of the Pizza House will help it grow its business and make money on the propertyThe Pizza House opened in Melbourne’s eastern suburbs in 2009 and has been a popular destination for locals for generationsThe property was previously owned by the Australian Government but is now being bought by a local investorThe purchase will allow the company to grow its footprint and make more money on its property.
Owner Steve O’Brien says the sale will allow it to grow further, and also help it make money from the property.
The company opened in Victoria’s eastern suburb of Melbourne in 2009.
O’Brien bought the property for $2.5 million in 2010, which was then worth $2 million, but it was not until 2017 that the property sold for $5.2 million.
O”We’re not a luxury property, we’re a high-end residential property,” O’Briens son, Jake O’Neil, said.
“This is an opportunity for us to grow and develop further, as we see growth opportunities in other parts of the city.”
Jake O’Neal said he is excited to see Pizza House move further into the city.
“We know the area, we know the demographics, we can’t wait to get started and do some business,” he said.
The Pizza house opened in 2009, and is considered a popular place to eat and hang out, especially during the festive season.
O Brien said the family has been involved in Pizza House for over 25 years, and had grown to become one of the largest pizza makers in Melbourne.
“It’s really about growing our brand and creating new opportunities for the people who love to eat, and to have a good time with their families and friends,” O Brien explained.
Jake ONeil said he believes the purchase will help the family expand their business further into Melbourne’s western suburbs.
“I think this is a fantastic opportunity for Pizza House to grow, as it will be an important piece of our portfolio for us,” he explained.
“In a city like Melbourne, where people are looking for opportunities, this is definitely a great opportunity for them to get a foothold.”
Jake and his father will be moving to the city from their native Adelaide, where they are currently working in the hospitality industry.
Jake said he has a dream to move to Melbourne someday, and that he has always had an affinity for Melbourne.