Australian Venue Co continues its investment into regional Victoria with acquisition of the popular Birallee Tavern of West Wodonga.
The Tavern is a sandstone and brick structure, built in 1994, located in a shopping centre precinct in a significant residential area of the Victorian border town of around 15k people.
It provides a spacious public bar and dining areas, bistro with seating for 120 inside and another 120 outside in a heated, undercover space, TAB facilities, gaming room with 30 EGMs, 80-seat function space, lounge area and kids room, beer garden, drive-thru bottleshop, and ample parking front and rear.
Marketing literature cites significant year-on-year growth in revenue and profitability across its multiple departments.
Australian Venue Co (AVC) assumes control of a 10-year lease, with four years remaining plus four 5-year options.
“Australian Venue Co has been investing significantly in the Victorian market and that includes regional venue acquisitions, such as the Criterion Hotel in Yarrawonga,” explains Paul Waterson, AVC CEO.
The group boasts more than 170 pubs, which it strives to keep unique and individual through local leadership, tailoring the venues to local tastes, and is clear about intentions to do the same at Birallee.
“We are always proud to take on great local venues and Bira, as it is fondly known, is one of them,” adds Waterson.
AVC takes the keys from Ben Stewart and Lisa Ryan, who have operated it for about a decade.
They engaged MHB’s Dan McDonald to sell the business off-market.
“Connecting a national group of the calibre of AVC to a standout local venue such as the Birallee Tavern was an excellent result for all parties.”
