The Mitchell River Tavern in Bairnsdale is being sold as a freehold going concern, as the long-time owner of the pub under management determines it is time to move on.
The Victorian-era two-storey Tavern is located a stone’s throw from the picturesque Mitchell River, running through Bairnsdale, around three hours’ drive east of Melbourne, before it meets the ocean at Jones Bay.
More than 30 years ago Ron Carrison and his brother acquired the asset, along with an adjoining service station and what is currently a (tenanted) coffee shop.
The pub counts a sports bar with TAB and gaming machines, central high-capacity commercial kitchen and bistro at the front, large function area at the rear, 12 accommodation rooms upstairs, and a drive-through Bottlemart-branded bottleshop.
The hotel building, with undercover parking, sits on 1,750sqm. The combined land titles are 3,000sqm.
Carrison has been considering divesting for some time, and now the sole owner he is reportedly “keen to move on” and has listed the assets through CBRE Hotels’ Mat George.
Presenting multiple upside opportunities, the combined hotel and retail properties are expected to sell for north of $5 million.
“The Mitchell River Tavern is arguably Victoria’s best priced gaming pub,” suggests George
“It has 16 machines and big upside. This opportunity is ripe for an owner-operator, but at the same time could suit an investor or group chasing big yield and additional scale.”
Zoned Commercial 1, George notes that subject to council approval there is “plenty of scope for future developments on the adjoining property”.
The Mitchell River Tavern freehold going concern is being sold via Private Treaty, and “priced to sell”.
