Victoria Tavern: Iconic beef capital pub up for grabs
A classic Queensland pub has hit the market for the first time in nearly half a century and it comes with an iconic XXXX Man standing guard over the front door.
The Victoria Tavern, in the Rockhampton suburb of Berserker, is for sale via Offers to Purchase with price expectations around $5.5 million.
The pub has been owned by the Mitchell family for 44 years with Sue Mitchell having run the joint for the past three decades.
The fourth-generation publican said Victoria Tavern was a local landmark known for the XXXX Man standing proudly at the front door.
“He has been watching the comings and goings on busy Lakes Creek Road for so many years,” she said.
Ms Mitchell said the pub was the longest running family-operated independent hotel in the region.
“It has stood the test of time as a solid business within the ever-changing hotels industry,” she said.
“The diverse mix of income streams has provided a good balance during different trading periods and economic conditions.
“Over time we have made improvements, with the property completely rebuilt in 1990, and the beer garden and function area added in 2020.”
The property is a two-storey building with a main bar, bistro, beer garden, 20 gaming
machines/authorities and rooftop dining and function area, plus a dual lane drive-through bottle shop.
It is on a 3330 sqm block across three titles, with 1728 sqm of floor space in the hotel.
The Offers to Purchase campaign is being run by Knight Frank agents Tony Fenlon and Pat O’Driscoll.
Mr Fenlon said he expected strong interest in the property due to its location, future potential and current strength in the hotels market.
“Victoria Tavern is only 600m from the Rockhampton CBD and is well exposed, located on one of the busiest thoroughfares within Rockhampton, with access to North and South Rockhampton and Capricorn Coast beaches,” he said.
“It is close to some of the biggest businesses in the area, including Ergon and two meatworks, as well as the backpackers and caravan park, and plenty of recreational facilities, including Callaghan Park Racecourse, the Rockhampton Cricket Grounds, AFL grounds, touch football fields and a junior rugby league field.”
Mr Fenlon said the hotel market in Rockhampton was buoyant, evident by the recent sales of other local hotels, including The Heritage Hotel and Kalka Palms Hotel
“In particular, hotels with the complete package like Victoria Tavern, including gaming, retail liquor and a strong on-premises trade, are in strong demand from buyers,” he said.
“The current owners do have preliminary plans for a liquor barn and drive-through coffee shop on the vacant 1,500 sqm block located to the west of the hotel.
“Rockhampton is increasingly popular with investors, who are attracted to our resilient and stable economy, and infrastructure boom, with over $3 billion in projects currently under way in the region, creating growth.”
The Offers to Purchase campaign will close at midday on Wednesday, April 17.