Australian Venue Co has announced its acquisition of the newly-sold Apollo Bay Hotel, on Victoria’s famous Great Ocean Road.
Following the $10.5 million sale last week to an unnamed Victorian publican, AVC has entered an exclusivity agreement with the freeholder for the leasehold operation, with settlement expected in the coming months.
Serving the community since 1885, just metres from the ocean, the Hotel offers a family-friendly bistro, al fresco dining on the large veranda overlooking the beach, public bar, accommodation, function room, and a new beer garden at the rear, which proved very popular during summer.
The picturesque property came to market for the first time in over 30 years in February, and has become AVC’s first acquisition on the Great Ocean Road.
The group has been executing a concerted investment program into Victoria. This year already saw AVC pick up the Anglers Tavern, Maribyrnong, adding to its existing portfolio of Victorian venues, including Hotham Hotel on Mt Hotham, Birallee Tavern in Wodonga, and both the Terminus Hotel and the Criterion Hotel in Yarrawonga.
Apollo Bay was the latest high-profile Victorian coastal pub to change hands, after Merivale debuted into the state with purchase of the nearby Lorne Hotel in 2021 for around $38 million. Backing these up is the current sale campaign on the Wye Beach Hotel, between Apollo Bay and Lorne.
AVC says it has no immediate plans for changes at the Apollo, and will offer continued employment to the existing staff.
“Apollo Bay is an iconic Victorian destination, and the Apollo Bay Hotel is a historic local landmark,” beamed Paul Waterson, Australian Venue Co CEO.
“We have a strong track record operating pubs in regional areas and in popular holiday destinations and look forward to joining the community in Apollo Bay.
“We’re very excited to be part of the pub’s next chapter and to work with the team.”
