The stunning run of pub sales along Victoria’s Great Ocean Road appears to show no signs of slowing down, with JLL Hotels & Hospitality Group thrilled to announce the sale of the freehold interest of the iconic Wye Beach Hotel. Presented to market for the first time in over 30 years, the fully leased investment opportunity was offered exclusively for sale by JLL Hotels’ Senior Vice President, Will Connolly.

Hotly contested throughout the sale campaign, the Wye Beach Hotel drew over 150 enquiries nationally from private investors to some of the industry’s most recognised capital, culminating in a sale price well over the stated price guide of $5.5m, and reflected an incredible circa 4.10% yield. The hotel was eventually secured by a NSW-based private investor who has chosen at this stage to remain undisclosed.

Will Connolly commented, “To take to market hotels such as these, in one of the world’s most beautiful locations is an incredible privilege. The level of interest and resultant buyer competition in the Wye Beach Hotel demonstrates yet again the furious demand for coastal hospitality assets, as well as the clear investment appetite shown in the regional pub market”.

The asset was presented to market having undergone recent significant upgrades offering a brand-new, purpose-built function & events centre. The original pub offers multiple trading zones which include a stunning front deck with sweeping views across Wye Beach, family friendly bistro, public bar and grassed beer garden ideal for the summer months. With an elevated position overlooking the town and nearby beach, the hotel enjoys a thriving business under a long-term and secure tenancy that includes multiple options and favourable terms.

Long-time freehold owners, Paul and Tess Brown, have indicated this will be an emotional exit for the family stating, “The hotel and the town of Wye River have been such a significant part of our family for a long time, hence it’s been a difficult and carefully considered decision in offering the property to market. We wish the purchaser the very best with their sensational investment, and just as importantly, look forward to seeing the existing tenant continue to thrive in one of the world’s most beautiful locations”.

The Wye Beach Hotel sale continues the recent momentum in demand for coastal hospitality assets along Victoria’s south-west coast, with Mr Connolly concluding, “Since September 2021, JLL Hotels have sold $83 million of coastal hospitality assets along this stunning stretch of coast, beginning with the Lorne Hotel, the Apollo Bay Hotel in March of this year, the recent sale of Ocean Grove’s Collendina Caravan Park and now the Wye Beach Hotel. We look forward to announcing further coastal opportunities as the year progresses as we look to satisfy the market’s burning desire for coastal assets”.

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