Owner Richard McLeod yesterday confirmed infamous Dunedin student pub the Captain Cook Tavern was officially on the market.
He said the Cook Brothers had had a good run out of the Cook and it was dear to their hearts, but as their enterprises expanded it was time to let someone else take over - someone who had the time to devote to it and give it the "TLC" it required.
Mr McLeod, James Arnott and brothers Ben and David Bulling became known colloquially as the "Cook Brothers" after they bought the lease on the pub as 20-something students in 2004.
They have since expanded their business interests and now Mr McLeod and Mr Arnott run Cook Brothers Bars. The company owns four other bars in Dunedin, one elsewhere in Otago and several in Auckland. The Bulling brothers run Cook Brothers Construction.
"It [the Cook] was a fantastic launching pad for us," Mr McLeod said.
The men's intention from the start was to return the 150-year-old pub to its former high profile, and history under their reign has been chequered.
The Cook challenged neighbours and licensing agencies several times with its drink promotions and events that pushed the boundaries, most notably the Cookathon, which was cancelled in 2009 after renewal of the pub's liquor licence was under threat. The University of Otago opposed its liquor licence renewal at least once.
In the past few years, the University of Otago has bought traditional student pubs the Bowling Green Tavern ("the Bowler") and the Gardens Tavern ("the Gardies") and turned them into academic facilities.
Mr McLeod said the company met the university's chief operating officer, John Patrick, about the time the university was buying the Gardens Tavern to discuss the university's intentions on controlling student drinking and whether the pub could continue in such an environment.
At the time, the university said it was not interested in buying the Cook. Yesterday, a spokeswoman said the position remained the same.
Dunedin District Licensing Agency inspector Tony Mole said he hoped the Captain Cook would remain a pub.
Having somewhere up to 800 people could gather in a controlled environment was better than having many small parties or bars operating all over the place.
The Cook Brothers bought the bar from DB Breweries.
The buildings and land are leased from a private Dunedin company.
The Cook was established in 1864 but the original wooden structure was replaced in 1873 by the present stone and brick building.
Extensive alterations were carried out on the two-storey building in 1957, 1973 and the early 1990s.
