Media release 11 June, 2001

Esplanade Hotel Foundation indicates its interest in Esplanade Hotel Sale

The Esplanade Hotel Foundation, a cultural organisation established by the Esplanade Alliance to ensure the continuation of the Espy tradition as an incubator of independent local music and comedy talent, has lodged an expression of interest in the Becton Corporation’s tender process to sell the Esplanade Hotel.

The Esplanade Hotel Foundation model offers a variety of ownership and management structures designed to operate in conjunction with one or more commercial partners in an original example of public-private joint venture.

Our concept is to create and sustain a powerhouse of new, experimental, alternative live music, comedy and arts at the Espy that will meet the needs of communities across Melbourne and bring together the quintessential qualities that give St Kilda its uniqueness, vibrancy and authenticity.

Scope now exists to refurbish the upper two levels and, in conjunction with the existing downstairs pub, forge a dynamic space for innovation, creativity and new experiments across the arts and community sectors. For the Espy to remain an icon in Melbourne’s musical landscape it is crucial that the potential of the whole of the building be used.

Whilst there are tremendous potential rewards, we recognise that fulfilling this vision will involve risks for a commercial operator. Consequently, the Esplanade Hotel Foundation is prepared to undertake some of these risks in terms of fundraising and securing tenancies for the upper floors to ensure there is a synergy of activity across the whole building.

We have already taken considerable steps to bring together the cultural and social capital needed to sustain and reinvigorate the Espy image, reputation and brand. We would be willing to link this capital (and later financial capital) with parties that share our vision and passion for the hotel.

The Esplanade Hotel Foundation is prepared to undertake to raise the capital necessary to return the upper floors to the uses outlined above on the condition that the ground floor operator is committed to continuing the Espy’s cultural role as a vehicle for the on-going cultural evolution of affordable, leading edge music, comedy and art.

Recognising and valuing the Espy’s culture and contribution to both St Kilda and the broader metropolis should not just be the responsibility of the private sector. Certainly private operators have a key role to play, but so do others including the local and state governments and the broader range of stakeholders including the Espy’ s customers, admirers and artists.

The fate of the Espy rests with the intentions and goodwill of the community and investors.

For further media information please contact:
Krystyna Kynst espyhf@yahoo.com

Guarding the Heart and Soul of St.Kilda

This webpage is maintained by Cyndy Vogelsang on behalf of the Esplanade Alliance