Former Western Bulldogs player Paul Dimattina has sold his popular Yarck Hotel in Victoria’s popular north-east tourism corridor to a local and operator.
Located on the Maroondah Highway in the state’s north-east, the Yarck Hotel is enroute to the renowned Yarra Valley wine region and enjoys strong year-round visitation due to its close proximity to Lake Eildon. It offers guests and travellers a country-style public bar and restaurant, beer garden and an adjoining Meat and Produce Store.
Dimattina, who played 131 games with the Western Bulldogs as a utility and midfielder from 1995-2003 before joining Queensland’s Southport Sharks, acquired the pub with business partner and chef Geoff Lindsay during the COVID lockdowns.
The pair executed a major refurbishment in 2022 that doubled the size of the beer garden and added private dining rooms.
It has evolved as a popular destination for car and motorcycle clubs and touring groups, beyond being patronised by people headed to Seymour, Yea, Alexandra, Lake Eildon and north to the ski fields.
Dimattina and Lindsay also hold Lamaro’s Hotel in South Melbourne, however, the latter has recently moved to Bali.
Dimattina remains publican at Lamaro’s, but last month news emerged he had signed a 12-year lease for a cafe and deli tenancy in Fortis’ forthcoming $131 million St Kilda development The Gild, partnering with his son Kai, who plays in the VFL for Port Melbourne, his brother Andrew, a former Collingwood player, and cousins Paul, Liam, Chris and Adam.
The Yarck Hotel was sold off-market to a local investor as a freehold investment – but with a lessee to take over, under an initial lease term of 10 years, plus options.
The vendors engaged HTL Property’s Scott Callow and Daniel Ryan for the divestment, who were unable to disclose the sale price, while noting the strong appetite for regional markets seen in investors given the tight yields manifesting in metropolitan hotels.
Sale of the Yarck follows that of a rare freehold going concern in nearby Mansfield, when long-time owner operators sold the Delatite Hotel.
“Regional hotels within easy reach of Melbourne continue to attract strong interest from both investors and operators alike,” says Callow.
“Having a strong local community and year-round passing trade, further underpins strong investor demand.”
