The stately Victorian-era Mitchell River Tavern in coastal Bairnsdale has been put to market, offering a variety of upsides in a rare Victorian freehold.
The two-storey hotel occupies 1,436sqm in a prominent position on the Princes Highway, around three hours’ drive east of Melbourne, a stone’s throw from the picturesque Mitchell River, flowing into Jones Bay.
It is well-presented, providing a bistro, TAB, gaming room with 16 EGMs, large function room, 12 well-appointed accommodation rooms with ensuites, a drive-through bottleshop, and ample undercover parking.
It also holds a liquor licence with both ‘early opener’ and extended trading hours flexibility.
Bairnsdale is a family-centric town of around 16k residents, and only two gaming pubs. The Tavern has come to specialise in weddings, amid limited comparable competition.
Ron Carrison and his brother acquired it in 1990, and the Carrison family has held the keys ever since, although the business has been operated under management in recent years.
Marketing literature cites multiple upside levers, notably the absence of a designated public bar, and largely under-utilised trading footprint, including lack of an outdoor beer garden.
Australian Venue Co’s recent return to its big-ticket portfolio purchase of the Sand Hill Road collection has highlighted the strength and interest in the Victorian Hotel market, and the venue is expected to sell for north of $5 million.
“The Mitchell River Tavern presents as a very rare freehold going concern opportunity and arguably one of Victoria’s best priced gaming pub opportunities,” suggests HTL Property’s Sam Handy, marketing the property with colleague Andrew Jolliffe and in conjunction with Keiran Bourke from Burgess Rawson.
The on-market sale process for the Mitchell River Tavern is being conducted via Expressions of Interest, closing Thursday, 15 September.
