Negotiations are "well underway" for the sale of a stake in Melbourne South Wharf Promenade venue, The Boatbuilders Yard, according to the agents managing the process.

CBRE Hotels' Mathew George and Scott Callow are marketing a minor share in the property on behalf Riverland Group, which operates a large and diverse portfolio of hospitality venues, predominantly in metropolitan Melbourne, but also in regional Victoria and metro Sydney. 

Riverland is also developing another major hotel project in Brunswick, an inner Melbourne area which the group has identified as going from strength to strength.

At a glance:

• CBRE Hotels is in the process of selling a minor share in Melbourne South Wharf Promenade venue, The Boatbuilders Yard, on behalf of The Riverland Group.
• The process is being managed by agents Mathew George and Scott Callow.
• Mr George said the Riverland Group decided to offer a minority share in its business to assist with its ongoing cash flow and ensure the group’s ability to "navigate through the current circumstances”

Group co-owner Richie Ludbrook said there had been strong interest from a "swathe of potential suitors" in The Boatbuilders Yard, highlighting "ongoing demand from investors even in these uncertain times".

Opening eight years ago, the hotel has since become a focal point for South Wharf Promenade, with capacity for over 1,400 people.

Mr George said the Riverland Group decided to offer a minority share in its business to assist with its ongoing cash flow and ensure the group’s ability to "navigate through the current circumstances”, adding the market response to the offering demonstrated the resilience of the Victorian hotel industry.

"There’s a significant amount of private capital seeking investment in non-traditional vehicles at this point," he said.

"Investors still have a strong appetite for pubs and like the idea of an uncomplicated avenue to owning a piece of the action.

"They are clearly happy to consider a minority share in quality run venues associated with highly regarded operators."

Similar to this: 

Adelaide's Saracens Head Hotel for sale

Port Melbourne London Hotel leasehold for sale - CBRE Hotels

Collingwood pub for sale through CBRE Hotels