Colliers International expects keen interest as buyers look to secure purchases pre-Christmas
One of the most impressive hotels in north east Victoria is set to go under the hammer next month with agents expecting strong interest in the lead up to Christmas.
Colliers International’s Pat Connolly and Will Connolly have been appointed, in conjunction with Doug May of Chapman Gould & May, to sell Hotel Nicholas in Beechworth by auction on December 9 at 12 noon on site.
Hotel Nicholas sits prominently on the busy corner of Camp Street and High Street in the historic gold rush town of Beechworth.
“The property has been lovingly and meticulously maintained by the current operator and, together with an impressive collection of artefacts and memorabilia, gives its visitors a unique sense of local history,” Will Connolly said. “It is one of the most impressive hotels in north east Victoria."
The property comprises a family/dining room with live performance stage, a classic public bar with separate billiards room, a large courtyard with its own bar, a popular cellar wine tasting room and function space, drive-through bottle shop, two ensuited accommodation suites and a second story Thai restaurant/function space which utilises the hotel’s spacious balcony.
The hotel has a general liquor licence until 1am and generates an income of around $1,074,888 per annum.
Will Connolly said the hotel had a rich history and was presented to market in excellent condition.
“We’re expecting strong interest in the property and expect likely buyer types to be either current owner operators or former residents of the area who know the region well,” he said. “In the past, we’ve experienced an additional burst of buyer activity at this time of year, as people look to ‘get in’ before the Christmas and New Year holiday trade really takes off.
“Towns such as Beechworth experience a high level of tourist activity over this period and it would be a great start financially for an incoming operator to begin their tenure at this particular time."
Beechworth is a town of approximately 2,800 located around 284km north-east of Melbourne and 38km south of Wodonga. It has two primary and one secondary schools, a hospital, several motels, a caravan park, pharmacy, hardware store, supermarkets and more.