Great Ocean Road’s ‘best’ pub on the market
The Apollo Bay Hotel has been listed for sale after winning the AHA best regional pub bar award in 2021.
The owners of an Apollo Bay pub are going out on a high, putting the 1885 hotel on the market after taking out a prestigious award.
The Apollo Bay Hotel, which won the Australian Hotels Association’s best regional pub bar award in 2021, is selling for the first time in 30 years.
One of the long-time owners, Stephen McMahon, said the sale of the pub may be an emotional exit for he and the partners.
RELATED: Cam Mooney reveals his new career change
Healthy new plans revealed for Geelong landmark
What income you need to buy in every Geelong suburb
“The hotel and the town of Apollo Bay have just been amazing to us over our tenure of operation,” he said.
The Apollo Bay Hotel has been listed for sale after winning the AHA best regional pub bar award in 2021.
“The comforting factor for us in making the decision to sell has been the knowledge that the new owner will be acquiring a true turnkey business, our staff are an incredibly talented team who will be keen to continue to drive the business forward.”
JLL Hotels vice president, Will Connolly, who is offering the freehold and business via an expressions of interest campaign, said earlier indications show price hopes to be north of $10 million.
The Great Ocean Road pub offers a once in a generation opportunity to acquire an iconic coastal hotel in one of Victoria’s most popular tourism and lifestyle locations.
The Apollo Bay Hotel has been listed for sale after winning the AHA best regional pub bar award in 2021.
“Hotel assets such as the Apollo Bay Hotel are long held by owners for a reason – we have a highly successful business, enjoyed by both a healthy mix of local and tourism trade, in one of the most spectacular locations in Australia,” he said.
“Our vendors are providing an excellent platform for the next operators to inherit what is a very special asset”.
Mr Connolly said awards, such as the AHA’s best regional pub bar, were well regarded and provided positive signs for the operators taking over the asset.
The Apollo Bay Hotel has been listed for sale after winning the AHA best regional pub bar award in 2021.
“I think these type of coastal assets have stood the test of time. Anything near the ocean are always going to be sought after,” he said.
“The fact they have owned the property for such a long time is no doubt a great sign of the next operator coming in.”
Mr Connolly said the venue offers a strong base of revenue with multiple trading zones such as a front deck overlooking the beach, a large family bistro, a public bar and multiple function spaces along with a newly added rear beer garden, proving popular to locals and tourists over the recent holiday period.
The Apollo Bay Hotel has been listed for sale after winning the AHA best regional pub bar award in 2021.
The 2368sqm site has a Commercial 1 zoning, providing potential for future expansion by increasing the current accommodation offering to cater to the extreme demand of year-round tourism.
The buoyant market for pubs nationally should continue in 2022, he said.
“Because pubs and the hospitality industry in general bounced back so strongly at the end of each lockdown that we endured that I think the market has seen how well they’ve bounced back.
The Apollo Bay Hotel has been listed for sale after winning the AHA best regional pub bar award in 2021.
“As a result sales prices and results within the market have been stronger than they have ever been before.”
The Apollo Bay Hotel comes to market after big sales for coastal pubs, including the Lorne Hotel, which Justin Hemmes’ Merival Group snared for $38 million in mid 2021.
The Shaws Bay Hotel in Ballina for $30.5 million, Byron Bay’s Great Northern Hotel for $75 million and the Woy Woy Hotel for $32 million are other notable sales.
Offers for the freehold and business of the Apollo Bay Hotel close March 3 at 5pm.
