The iconic Obar Bunny, the oversized rabbit that has greeted patrons at Hobart’s Observatory Bar for years, is up for auction as the venue prepares to close for good.
The auction listing describes the bunny as the original fixture, not a replica, that has stood tall at the Observatory Bar and featured in endless photos since the bar moved to the former IsoBar location in 2019.
It is being sold “as displayed, as is, where is”.
Apex Advisory managing director Tim Booker, who is overseeing the sale process for Pub Banc Group’s venues, said the bunny would be auctioned online with bidding closing at 2pm on Sunday.
“We would like to see it get a royal sum,” Booker told Pulse.
“We’d like to think that it’ll go to someone who’s got some memories in their heart around the Obar Bunny.”
Post Street and Obar will open for their final weekend this week, with specials on drinks and food to mark the occasion.
“We can guarantee this is the last weekend that Obar and Post Street are going to be open,” Booker said.
The venues are part of the Pub Banc Group, which entered voluntary administration in early July, forcing seven venues to close and leaving more than 80 staff without work.
Director Ian Vaughan blamed rising food, beverage, utility and insurance costs along with a shift in spending habits.
A second creditors meeting is expected soon and Booker said the company would most likely move into liquidation after that.
He said the Republic Bar building in North Hobart has already been sold to an external investor who is now looking for operators.
The Post Street Social building, which also houses the Observatory Bar, is nearing the end of its sale campaign being run by Ray White and Elders, with several interested parties.
Booker said there have been more than 45 inquiries from potential operators, many with deep hospitality experience.
The main sticking point is lease costs.
“One of the things that is hard to fix or kind of improve over time is your actual lease costs that you’re locked into contractually,” he said.
Adam Johnston from Apex Advisory praised the staff who continued showing up through weeks of uncertainty.
“I think it’s been very, very difficult on them having that uncertainty hanging over their heads,” he said.
Hospitality Tasmania had helped connect displaced workers with other businesses looking for staff.
Booker said he hoped some venues could reopen under new management within weeks or months.
