Landmark riverside restaurant Mosmans is back on the market, with owner Brent Pollard putting up for sale the venue he picked up from bankrupted restaurateur Warren Mead four years ago.
Mr Pollard has engaged agent CBRE to seek expressions of interest for the Mosman Park eatery, boat moorings and a three- bedroom residence all built over the water by entrepreneur Dallas Dempster in the 1980s.
CBRE's David Kennedy said Mr Pollard had spent more than $1.4 million on improvements since buying the establishment.
"He's just moving on to the next project, I think," Mr Kennedy said. "He's bought the property and has done it up, built the business and it's going well, so he's putting it on the market.
"If he achieves his price, he'll sell."
Mr Pollard bought Mosmans and West Perth restaurant Black Tom's from Mr Meads' collapsed empire in 2008, shortly after he and wife Fiona arrived in Perth from Britain. The businessman also founded with Matthew McNeilly corporate advisory and investment group Black Swan Advisors in 2009. This year he started online wine business AB Vintners with Andrew Moore.
Earlier this year Mr Pollard sold Black Tom's to mining identity Jeffrey Green, founder of the Power West contracting business.
Mosmans, formerly known as Meads, can accommodate 150 customers and moorings for seven 24m boats.
CBRE said 43,000 people dined at the restaurant in the past year, spending an average $102 a head. The agency is expecting attention from national and international investors. "We've spoken to a few parties and there's a lot of interest being shown," Mr Kennedy said.
The 3375sqm property is subject to a lease controlled by State Government agency the Swan River Trust.
Mr Dempster acquired the dilapidated facilities in the 1970s and fought for a decade to develop the site. In Mr Mead's time it became renowned for fine seafood dining.