IN another sign yuppies are replacing the student and working class-base that once defined Parkville and Carlton culture– the Naughton’s Hotel building is being offered for lease, targeting high-end tenants that can reposition the pub as a fancy restaurant.

Ending speculation the iconic Royal Parade pub would be rebuilt as student accommodation, as many other drinking holes in the area have – Alexander Robertson leasing agent Stephen Byrne instead said the building’s owner is seeking a long term operator.

Coincidentally Mr Byrne’s family operated Naughton’s for about 25 years. The building was last reported as selling to a private investor for $3.2 million in March 2006.

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