The idyllic seaside Wye Beach Hotel of Wye River has hit the market, for the first time in 40 years.
Considered one of Victoria’s iconic coastal pubs, it is located on the world-renowned Great Ocean Road and is the only Hotel in Wye River, around 30 minutes from nearby towns Lorne and Apollo Bay.
The Hotels’ elevated position offers unrivalled views across Wye Beach and beyond.
Providing multiple trading zones, it incorporates a picturesque front deck, public bar, family friendly bistro, and grassed beer garden ideal for the summer months. Facilities have recently seen significant upgrades, bringing a new function and events centre that has become popular for destination weddings.
Set on a generous landholding, the business is said to hold further expansion opportunity through the introduction of accommodation.
It is being sold on behalf of long-term family owners Paul and Tess Brown, who have lived it for four decades and suggest the sale may be an emotional exit for them.
“The Hotel and the town of Wye River have been such a significant part of our family for a long time, hence it’s been a difficult and carefully considered decision in offering the hotel to market,” says Paul.
“We do, however, believe the time is right given the recent activity seen in the market, particularly along the Great Ocean Road, so it makes sense for our family to act now.”
Since mid-2021 there have been two prominent sales on the iconic Road, kicked off by the much-publicised sale of the Lorne Hotel to Justin Hemmes’ Merivale, for $38 million, and last week the Apollo Bay Hotel to an undisclosed Victorian publican, for north of its price guide of $10.5 million.
Early interest in the Wye Beach Hotel suggests sale price circa $5.5 million.
“Over the years, the Wye Beach Hotel has grown from being a treasured ‘locals’ pub to become one of the most frequented venues along our Great Ocean Road, attracting Victorian, interstate, and international visitors,” offers JLL Hotels’ Will Connolly, marketing the asset.
The freehold going concern of the Wye Beach Hotel is being sold via Expressions of Interest, closing Thursday, 21 April.
