For the first time in more than a century, the Subiaco Hotel is on the market.

Part-owners and publicans Michael and Judy Monaghan are preparing to retire, The West Australian reported.

The couple are selling after almost 50 years in the business, which they part-own alongside the descendants of families who acquired the pub in the early 1900s.

The Monaghans said that Subiaco wasn’t dead, but resting.

“Certainly, blind Freddy knows Subiaco has lost its mojo but we believe a resurgence is about to happen,” Mrs Monaghan told The West.

The business, the 122-year-old building, restaurant and car park are part of the sale.

Meanwhile, despite dropping beer prices to just $3.50 a pint, The Vic Hotel up the road was put up for sale in March.

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