Wye Beach Hotel – another iconic Great Ocean Road pub for sale
Another of Victoria’s iconic coastal pubs, the Wye Beach Hotel, located in the idyllic seaside town of Wye River has hit the market. The hotel is being offered for the first time in 40 years, exclusively for sale by JLL Hotels Vice President, Will Connolly, via an ‘Expressions of Interest’ campaign.
Located on the world-renowned Great Ocean Road and offering unrivalled views across Wye Beach and beyond, the Wye Beach Hotel offers the market a truly once in a generation opportunity to acquire an iconic coastal hotel in one of Victoria’s most popular tourism and lifestyle locations.
Will Connolly is privileged to present the asset to market on behalf of long-term family owners, stating “Over the years, the Wye Beach Hotel has grown from being a treasured ‘locals’ pub to become one of the most frequented venues along our Great Ocean Road attracting patronage from Victorian, interstate and international visitors. You would be hard pressed in finding a venue with the location and uninterrupted ocean views that the Wye Beach Hotel has to offer, and it’s certainly one of the more spectacularly located hotels in Australia”.
The hotel has recently undergone significant upgrades via a brand-new function and events centre, now extremely popular for destination weddings, along with original features including multiple trading zones such as the stunning front deck with sweeping views across Wye Beach, family friendly bistro, public bar and grassed beer garden ideal for the summer months. With an elevated position overlooking the town and nearby beach, the hotel also enjoys the monopoly of trade being the only hotel within Wye River and located 30 minutes from nearby towns Lorne and Apollo Bay.
Long-time owners, Paul and Tess Brown, suggest the sale may be an emotional exit for the family, stating “The hotel and the town of Wye River have been such a significant part of our family for a long time, hence it’s been a difficult and carefully considered decision in offering the hotel to market. We do however believe the time is right given the recent activity seen in the market, particularly along the Great Ocean Road, so it makes sense for our family to act now”.
The Wye Beach Hotel comes to market amidst an incredible run of sales along Victoria’s iconic Great Ocean Road over the past six months. In August 2021, the much-publicised sale of the Lorne Hotel to Justin Hemmes’ Merivale was announced at $38m, taking the market by storm, and selling just last week, the Apollo Bay Hotel was sold to an undisclosed Victorian operator for well above its original price guide of $10.5m plus. This level of unprecedented activity in the area ensures that the Wye Beach Hotel will generate a feverish level of interest from buying groups on both a local and national scale.
With Mr Connolly concluding, “Both our team and the vendors are buoyed by the current heat in the market for assets of this nature. Just as importantly, we’re also honoured with the responsibility of representing one of Victoria’s most beloved hotels. The successful purchaser will have the opportunity to build on the hard work the current owners have made over the years and be the new custodians of an already iconic hotel.
The Wye Beach Hotel is available via Expressions of Interest closing Thursday 21 April at 5pm.
JLL, 23rd March 2022
