The leasehold interest in the Provincial Hotel in the heart of Ballarat is being sold by Private Treaty.
The historic hotel, built 1909, resides in the prestigious Lydiard Stret precinct.
Previously known as Irwins Hotel, it was operated by Simon and Gorgi Coghlan.
It includes the highly regarded Lola restaurant, multiple function spaces, a picturesque courtyard and 23 bespoke guest suites, with 1am trading licence and capacity for 500-pax.
In 2018 it was refurbished throughout, reportedly with “no expense spared”.
Sale is through JLL Hotels’ Will Connolly and Lachlan Persley.
Just north of the border, the Globe Hotel of Deniliquin is also on the market.
It sits on a 986sqm landholding, zoned B2 Local Centre, with an enviable 2am late trading licence and attractive outdoor beer garden.
It was recently refurbished and reports weekly sales exceeding $28k, generated equally by food and beverage trade.
There are opportunities cited in utilisation of the function area on the first floor.
The freehold going concern interest is set to be a good opportunity for a new market entrant.
It is being marketed by JLL Hotels Greg Jeloudev and Edward Browne, in conjunction with McDonald Hospitality Brokers.
