The Star Hotel in Victoria’s snow country is for sale, marking a sought-after gaming freehold opportunity in the Garden State.
Located in the Victorian Alpine Valley region, the Star is in the heart of Bright – a town around 300 kilometres north-east of Melbourne, gateway to the ski resorts, that enjoys year-round tourism.
The pub offers a central bar with labour-efficient single service point, an expansive family-friendly bistro, TAB and gaming room with 18 EGMs, and a recently introduced outdoor deck/beer garden.
It is the only gaming and TAB venue in Bright, amid the state’s highly competitive gaming sector.
Vendor on the sale is Sally Nicholson, who puts it to market buoyed by recent sales of Victorian regional assets, such as the Apollo Bay Hotel in February, and the Wye Beach Hotel in April, which are said to have “reset” expectations for the market.
Expected to transact sub-$10 million, the entry-level hotel is likely to appeal as a solid addition to a group portfolio, as well as to new entrants.
“The Star Hotel comes to market at a time where appetite for regional pub assets is as strong as ever within Victoria,” notes JLL Hotels’ Will Connolly, marketing the property.
“Demand for regional gaming assets more specifically is now at fever pitch, particularly for opportunities like The Star.”
The freehold going concern of the Bright Star is being sold via Expressions of Interest, closing Thursday, 15 September.
