Prized waterfront icon the Bridge Hotel of Mordialloc has officially been listed for sale, offering a trophy asset in the southern capital.
While the current two-storey structure was built 1870, a hotel has been on the site since circa 1851, the large-format premise occupying 6,961sqm, proximate to Mordialloc train station and multi-million-dollar properties and just 30 minutes south of Melbourne’s CBD.
It is one of only two pubs in Melbourne directly on the water.
With a trading footprint of more than 3,000sqm and 850-pax capacity, it offers a sports bar, gaming room with 50 EGMs, drive-through bottleshop, three function rooms, and two restaurants, with the extensive alfresco dining options offering picturesque water views.
Marketing literature notes diverse income streams, under a 3am Late Night licence.
Courtesy of recent confirmation by the Victorian Civil & Administrative Tribunal (VCAT), the hotel has approval under ‘existing rights’ to expand the current waterfront alfresco areas by approximately 300sqm. There is also approval for an additional 1,880sqm of first-floor space, and deck and bar expansions.
Additionally, the expansive car park offers future development potential, such as short-term accommodation or residential.
Touted as one of this year’s most highly anticipated offerings, the property is likely to appeal to hospitality operators and REITs, investors and developers.
Vendor on the sale is Marcus Johns, who bought it in 2020 from long-timer Peter Doyle, who had held the title since 1986. Johns began in pubs with ALH before purchasing Kirks Hotel on the Mornington Peninsula more than a decade ago, and later the nearby Westernport Hotel in Hastings, both of which he still owns.
The waterfront sale comes on a rising tide of investor activity in the market and follows in the footsteps of landmark Victorian sales in recent times, such as The Espy in St Kilda to AVC, the Lorne Hotel to Merivale, and the Rye Hotel to ALH.
Johns has engaged JLL Hotels’ Will Connolly in conjunction with Savills’ Nick Lower to market the asset, who note its development opportunities and potential for enhancement.
“The Bridge Hotel possesses many attributes crucial for the success of a large-scale pub asset,” says Connolly. “It’s high-volume trade, strategic location, and significant profitability make it a compelling investment.”
The freehold going concern of the Bridge Hotel is being sold via international Expressions of Interest, closing Wednesday, 18 September.
