Stakeholders in the Delatite Hotel, in Victorian tourism hub Mansfield, have joined to offer the re-stapled freehold going concern, in a rare opportunity in the tightly held state.
Mansfield Shire is in the heart of Victoria’s high country, around 220 kilometres or three hours’ drive north-east of Melbourne. Servicing both rural and tourism markets, attracting close to 700k visitors annually, its population is one of the fastest growing of any LGA in the state.
The Hotel is a handsome, Deco-inspired two-storey structure on a large, prominent 2,850sqm plot, accessible from three streets. It offers public bar, popular bistro, large leafy beer garden, established function business, 14 accommodation rooms and a drive-through bottleshop.
The pub is famed for its high-quality foodservice and generates weekly revenue averaging $100k. It is a regular finalist in the AHA Victoria Awards for Excellence.
Upside is seen in greater capitalisation on potential through the bars and beer garden, and the site lends itself to the addition of further accommodation (STCA).
Mansfield benefits from its proximity to an established food and wine industry, within easy reach of the capital. Its economy draws on the broader area, close to ski fields, mountain trails and other attractions, bringing visitors all year ‘round.
Sources suggest the hotel and business are likely to find sale price over $4 million.
Dean and Gillian Belle acquired it with an investor and “lovingly” reopened it in late 2013, in collaboration with their nearby Mansfield Regional Produce Store.
After a dozen years on the job the couple have decided to “take a step back” from the game, although they plan to stay in Mansfield.
The operators and private freeholder have joined to offer the hotel through HTL Property’s Scott Callow, and the campaign has already attracted eager investors and operators alike, drawn to the rare Victorian freehold going concern.
“Being the gateway to Mt Buller and Lake Eildon, the Delatite Hotel is a popular stop and attracts huge numbers of visitors throughout the four seasons,” notes Callow.
Sale is through an Expressions of Interest campaign, closing Tuesday, 9 December.
