Colliers announces sale of Award Winning Hospitality Venue Zonzo Estate
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Colliers announces sale of Award Winning Hospitality Venue Zonzo Estate
Colliers agents Ben Baines, Lucas Soccio, Duncan McCulloch, and James Zhuang, have sold the Innocent Bystander's hospitality venue unconditionally to a local owner-occupier, Zonzo Estate, just two weeks after the close of Expressions of Interest (EOI).
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Colliers334 Maroondah Highway, Healesville, Victoria sold by Colliers -
Colliers334 Maroondah Highway, Healesville, Victoria sold by Colliers
Colliers announce the successful sale of the renowned Innocent Bystander's hospitality venue on behalf of The Brown Family Wine Group at 334 Maroondah Highway, Healesville, Victoria.
Colliers agents Ben Baines, Lucas Soccio, Duncan McCulloch, and James Zhuang, managed the transaction and sold the asset unconditionally to a local owner-occupier, Zonzo Estate, just two weeks after the close of Expressions of Interest (EOI).
Ben Baines, Director, Melbourne Metro Sales | Investment Services, said, "The campaign was very well received by the market, with approximately 110 enquiries from a mix of owner occupiers and investors, both local, national, and offshore based. We received six formal offers from a range of buyer profiles, leading to a swift and successful sale."
The asset, which includes both the business and the property, was first acquired by The Brown Family Wine Group in 2016. Recognising the significant potential of its prime location near the world class wine region of the Yarra Valley, about one hour drive from Melbourne CBD, the group has continually invested in the site, trading as Innocent Bystander, completing a substantial upgrade in 2017.
Rod Micallef, Director at Zonzo Estate, expressed his excitement about the acquisition, "We are thrilled to be expanding our offering to an iconic Yarra Valley space. Patrons can expect a delicious new dining experience, a unique retail offering, and a new home for the legendary 'Zoncello' Limoncello Spritz."
Despite the sale of the property, The Innocent Bystander brand remains a key strategic growth priority for The Brown Family Wine Group. Georgia Bruton from Brown Family Wine Group said, "We have exciting new plans in the pipeline to expand the brand well beyond the Yarra Valley and into Australia and abroad as the brand for urban wine experiences, rather than a single brand venue."
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