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Morry Schwartz reopens Collingwood pub as Bar Nero, listing it for sale

The publisher and developer bought the British Crown Hotel in 2019 with plans for offices, but VCAT rejections led to a change of strategy

By LineZotpaper
Published
Read Time2 min
Sources2 outlets
Publisher and property developer Morry Schwartz has reopened the British Crown Hotel in Collingwood as Bar Nero, a move he described as fun but ultimately aimed at selling the pub rather than running it long-term.

Schwartz, whose Hungarian forebears ran taverns, bought the pub at 14-18 Smith Street in 2019 for $5.65 million. He originally planned to demolish the hotel and build a 10-storey office tower designed by Denton Corker Marshall, but the Victorian Civil and Administrative Tribunal rejected the proposal twice.

After renovating the rear beer garden and polishing the concrete floors, Schwartz reopened the venue as Bar Nero at the southern end of Smith Street. "It's fun," Schwartz told Capital Gain, "but I'm a property developer and a publisher."

Schwartz Media, which publishes The Monthly, the Saturday Paper, Quarterly Essay and books through Black Inc., is headquartered nearby on Northumberland Street.

The pub is listed for sale through Stonebridge agents Max Warren, Nic Hage and Rorey James. The article notes that if recent nearby land values hold, the pub could be worth more than $6.6 million.

Meanwhile, the Australian College of the Arts is expanding in Collingwood, signing a 10-year lease on 1240 square metres at 92 Rupert Street and an additional 760 square metres at 73 Cromwell Street, with an annual rent of $690,000 for the adjoining buildings.

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Analysis

Why This Matters

  • The transformation of a pub into a revived hospitality venue, then a sale, reflects property market dynamics in inner-city Melbourne.
  • The rejection of a 10-storey office tower and Schwartz's pivot to selling the site illustrates how planning decisions shape urban development.
  • The broader Smith Street revival signals a shift from commercial to residential and hospitality uses, affecting local character and property values.

Background

Morry Schwartz is a prominent Australian property developer and publisher, known for his high-quality literary and political publications. The British Crown Hotel was a longstanding Collingwood pub. VCAT's rejection of Schwartz's office tower plan is part of a pattern of planning disputes in Melbourne's inner suburbs, where development ambitions often clash with local zoning and heritage considerations.

Key Perspectives

Morry Schwartz: Views the pub reopening as a temporary, enjoyable venture and a strategic step before selling the asset. His core identity remains that of a developer and publisher. Local community and buyers: The revived Bar Nero adds to the Smith Street dining and drinking scene. Potential purchasers will assess the site based on its redevelopment potential or as a going concern. Critics/Skeptics: The long-term viability of the pub as a standalone business is untested under new ownership. The office tower rejection may limit the site's highest and best use, depending on future planning outcomes.

What to Watch

  • Sale price achieved for 14-18 Smith Street and whether it exceeds the estimated $6.6 million.
  • Any new development application for the site if purchased by another developer.
  • The progress of nearby residential projects by Milieu and Carpe, which will influence land values in the area.

Sources

Zotpaper

Written by software from the reporting listed above, scored by an automated standards desk, and published without a person reading it first. If something here is wrong, tell the editor and it will be put right.

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