Melbourne hotelier Marcus Johns is looking to divest the operation of the Westernport Hotel in Hastings, as Victoria’s gaming market enters an upswing.
The Westernport is a handsome mostly two-storey pub, established in 1890. It holds a commanding corner in Hastings’ High Street retail precinct, in Victoria’s coveted Mornington Peninsula, a stone’s throw from Western Port Bay.
Known for its consistent food and beverage offering in a spacious bistro and lounge area, the hotel also incorporates a popular sports bar with TAB, gaming operation with 40 EGMs, versatile function spaces, beer garden, and a drive-through Thirsty Camel bottleshop.
There is long-term lease in place, with options until 2050, and favourable two per cent annual rental increases for the lessee.
Johns has operated the hotel since 2013, and is passing the reins to focus on his other venues, Kirk’s (Kirkpatricks) Hotel in nearby Mornington and the Bridge Hotel in Mordialloc.
The sale comes on the back of recent reports that decisions around Victoria’s contentious gambling reforms have been delayed, prompting an uplift in market sentiment.
Seen as a pivotal moment for Melbourne’s gaming hotel sector, agents proffer it has created a “window of opportunity” for savvy operators.
“The Victorian Gaming Hotel market is in the early stages of a much-anticipated revival following a period of quieter conditions, with timing now becoming ideal for forward thinking operators,” says JLL Hotels’ Will Connolly, marketing the asset.
The leasehold interest of the Westernport Hotel is for sale via Expressions of Interest.
