One of Bendigo’s long-standing locals, the Metropolitan Hotel, is being offered for the first time in over 20 years amid strong activity in the region.
Affectionately known as ‘The Metro’, it has been a rock of Bendigo for more than 100 years and provides numerous trading areas, with capacity for up to 533 people and a late-night 3am liquor licence.
There is a large public bar and bistro, and a generous courtyard and beer garden. Upstairs there are two function rooms with private bars and an extensive sweeping balcony overlooking the Town Hall.
The post-pandemic shift in demographics has boosted impressive growth in Bendigo, making it one of Victoria’s fastest-growing regional economies, expected to reach 200k residents in coming decades.
The Metro is on a prominent corner in the commercial and retail precinct, and on the doorstep of the new ‘GovHub’ initiative by state government to boost the local economy and create jobs. Slated for commencement in coming months, it will bring a thousand government workers.
Sale of the leasehold interest in the pub is being managed by JLL Hotels’ Lachlan Persley, who anticipates plenty of interest in the venue after his recent campaign to sell the nearby Foundry Hotel, and notes the popularity of and demand for hospitality assets in Bendigo has been meeting limited supply.
Beyond prospects in the area, Persley says the Hotel holds its own potential.
“The Metro is an historically profitable business that is currently operating 4.5 days a week,” he notes.
“With increased trading hours, completion of the $120 million GovHub and the newly opened Law Courts, the hotel has significant trading upside.”
Sale of the leasehold interest in The Metro is via Private Treaty.
