Prince Alfred Hotel to change hands in deal negotiated by Colliers International
Port Melbourne’s Prince Alfred Hotel has changed hands, with former North Melbourne AFL star Corey McKernan making way for an experienced brother-and-sister team.
Pat Connolly, Colliers International Associate Director of Hotels, has facilitated the sale of the Prince Alfred Hotel leasehold business on behalf of Mr McKernan and his three business partners.
“We had some really great times at the Prince Alfred – although part of me is sad to let it go, I’m excited to be able to give my events business the time and energy it deserves,” Mr McKernan said.
Mr McKernan’s company, CM Ultimate Events, has been operating for more 10 years and manages a catalogue of key signature events that utilise A Grade talent and partners.
Purchasers of the Prince Alfred Hotel, Linda Turner and Steve Schultz, are a brother and sister team who have previous experience running a hotel on the Bellarine Peninsula.
“The Prince Alfred Hotel is one of those classic inner Melbourne corner pubs from the late 1800s – it’s a beautiful, character-filled property,” Mr Connolly said.
“We’re experiencing high demand for hotel businesses in the sub-$300,000 range. The market is being driven by new entrants as well as smaller independent hotel groups looking to build on their portfolios."
Mr Connolly and brother Will are responsible for a long list of recent hotel leasehold sales in the Melbourne metropolitan area, including the Vincent Hotel in Albert Park, The Station Hotel in Footscray, The Rose Diner in Port Melbourne, The Railway Hotel and The Wayside Inn in South Melbourne, Young & Main in Bacchus Marsh, The Beehive Hotel in Hawthorn, Getrude’s Brown Couch in Fitzroy, Polly Bar in Brunswick and Vessel Bar in South Wharf.