The freehold Investment of Ballarat Central’s ‘The Bluestone’ has come up for sale, offering an historic ‘blue-chip’ asset in Victoria’s tight market.
The Bluestone is a three-level structure on 728sqm that has seen significant capital expenditure, bringing state-of-the-art facilities. Holding a valuable late-night liquor licence, it has become one of the precinct’s premier late-night entertainment venues.
It is on a long-term lease plus options to experienced and successful operators, with market rental return and the tenant paying all outgoings.
Ballarat is a regional hub of over 100,00 residents, around an hour and a half west of Melbourne. The pub is close to the town’s CBD and outstanding Station Redevelopment project.
It is being marketed by CBRE Hotels’ Will Connolly and Scott Callow, and likely to see sale price reflecting the State’s tight regional returns.
“The Bluestone represents an excellent opportunity to secure a high yielding, passive investment in the heart of one of Victoria’s strongest regional cities,” says Connolly.
The Bluestone freehold is being sold via Expressions of Interest, closing Wednesday 31 October.