The 3.5 star hotel features 33 guest rooms (all en-suited), a large public bar, restaurant/bistro, gaming lounge with 34 gaming machines with a permit for 40. It has a large conference/function facility and separate three-lane/drive-through bottle shop. 

The new owners won’t have far to travel with the Corio Hotel just 20 kilometres away. 

Mr Connolly said because of the potential to redevelop the nearly 4,500 square metre site there had been interest from not only hoteliers but also property land bankers.

“The landscape is changing. Pubs are often located in prime spots – the beach front, in the CBD, and often corner blocks as well,” he said.

“The future development potential is extending the attraction of these assets well beyond your traditional hotelier. 

“As is our normal process, we work closely with a national commercial metropolitan investment platform to ensure all markets are canvassed to optimise the sale.”

Mr Connolly cited the Harbour View Hotel in Sydney’s The Rocks as another example. 

JLL sold the pub in the middle of last year to first-time buyer Dominic Barba, who made his fortune in supplying fresh fruit and vegetables to cruise ships, airlines and hotels.

“It is in such an amazing position, already has great holding incomes as well as potential future alternative uses. Dominic sees the potential in the site and because he doesn’t come from a traditional hotelier background he looks at the site differently.”