Administrators have been appointed and are seeking a sale on the Bridge Hotel of Bendigo, after post-COVID challenges.
Built 1858, the pub was previously known as the Waterloo Hotel. It has become renowned for its exceptional cuisine and diverse selection of local Heathcote and regional wines. With capacity for 300 patrons, it offers attractions including live music weekends.
The private owners bought into the business eight months prior to the COVID lockdowns. Battling through the turmoils and forced closures, the Bridge entered troubled waters.
In FY22 it reported income of $2.1 million, but this fell to $1.8 in FY23 and $1.3 in FY24, representing a drop of 38 per cent in just two years.
Struggling with the vestiges of post-lockdown restrictions and rising business costs the tenants finally opted to put the Hotel into voluntary administration. Receiver Hayden Montgomerie of Worrells is continuing trade, and employment of 21 staff, while a sale is explored.
Bendigo is around 140 kilometres north-west of Melbourne and geographically close to being the centre of Victoria. It is the 19th largest city in Australia, with population of more than 103k residents.
A sale campaign on the Bridge is being conducted by Xcllusive Business Sales’ Leisa Wheatland, who says the successful buyer will be able to negotiate a new lease with the landlord.
“All offers will be considered, and forwarded to the administrators for consideration,” says Wheatland.
The leasehold interest of the Bridge Hotel Bendigo is being sold via Expressions of Interest, closing Wednesday, 12 June.
