The NBR understands DB has injected about $387,000 into the new company along with $258,000 from Three Jays in order to buy the bar, manage it and also operate a microbrewery on the premises.
DB, which was the head leaseholder of the bar, sent in receivers to take control of The Temperance earlier this year after concerns about its management, which sub-leased the venue.
We have it on good authority that DB stepped in and dealt a death blow to what was arguably Wellingtons biggest Bar – the Temperance complex. this morning. It was viewed as an ambitious complex by Wellingtons hospitality industry. It’s fit out was estimated to be around $3 mil. DB and the Wellington Rugby Union were significant investors. Everyone is asking what Wellington Rugby is up for after the bars and restaurants failed to make good. Sad really – it would have been good to see it take off but we understand that fit out, cost overruns and very high rents meant it was an intemperate investment from day one.