A “rare and distinguished” freehold operation is being sold by long-timers, offering the picturesque American Hotel in popular Creswick.
The Hotel boasts a rich history, established in 1858 it is a beautifully maintained heritage building dripping with period charm, enhanced throughout with considered modernisation and patronised by loyal locals and consistent passing trade.
The American provides three bar areas, each designed to cater to different styles of dining and entertainment, a stylish bistro seating up to 60-pax and supported by a well-equipped commercial kitchen.
On the upper level is the elegant Lindsay Room, with a private bar and landing, for functions of up to 100 guests. The more intimate Green Room is a refined space for private dining or smaller events.
The six well-appointed accommodation rooms are complemented by multiple alfresco areas for guests to enjoy relaxed dining or social gatherings. The rooms report high occupancy rates and hold an average 4.3-star rating on TripAdvisor.
There is also a newly installed 50-panel solar system, and ample off-street parking via Exchange Lane.
Counting a range of income streams the business enjoys strong returns and holds scope for future growth.
On offer is the freehold going concern, across two land titles totalling 2101sqm. Beside the hotel is the adjoining 88 Albert Street, which holds a fully self-contained three-bedroom residence and a retail space currently leased to a Pilates studio, providing reliable secondary income.
The generous block size unlocks future development prospects, such as boutique accommodation, a microbrewery or distillery, or expansion of the hospitality space.
Creswick is found 18 kilometres north of Ballarat, approximately 90 minutes from Melbourne, in Victoria’s celebrated goldfields region. Equipped with strong local infrastructure and appeal, Creswick is in a growth phase.
Both the resident population of around 3,200 people and growing number of tourists, drawn to its rich heritage streetscape, surrounding wilderness and active outdoor lifestyle, are projected to increase by over 10 per cent in the coming years.
The town is also the gateway to Hepburn Springs and Daylesford, two of Victoria’s most visited spa and wellness destinations. The Hepburn Shire region, which includes Creswick, welcomes over 1.6 million visitors annually, generating more than $325 million in visitor expenditure, according to Visit Victoria.
Brendan and Wendy Smith have owner-operated The American for 22 years, having previously owned Craig’s Hotel in Ballarat for five years.
After “a long stint in hospitality” they are divesting their sole operation, seeing the time as right to retire.
Looking for a sale price of $2.75 million (+ SAV), they have engaged Jellis Craig Ballarat’s Chris Sargent and Rohan Pertzel to market the property in conjunction with CRE Brokers.
“The American Hotel is ready for its next custodians to continue its legacy while shaping an exciting new chapter for this landmark destination,” says Sargent.
