Bendigo’s Foundry Hotel has come to market, offering a sensational opportunity to acquire a fully refurbished gaming hotel in the heart of one of Victoria’s largest regional cities. The leasehold interest in The Foundry is being offered for sale for the first time in 33 years on behalf of the long term freehold owners. JLL Hotels & Hospitality Group’s Will Connolly and Lachlan Persley will be exclusively marketing the opportunity via a national Expressions of Interest closing Wednesday 15 March 2023 at 5:00pm AEDT.

Meticulously renovated throughout, The Foundry provides operators a true ‘turn-key’ business, with proud owners the Kuchel family, undertaking extensive work on the venue in recent years. Key features include a 200-seat bistro, popular sports bar ‘Mister Bobs’, a large gaming lounge housing 25 electronic gaming machines, popular function space ‘The Zinc Room’, along with the recent addition of a cocktail bar ‘Miss Molly’s’, proving hugely popular since its opening in late 2021.

Will Connolly, Senior Vice President, JLL Hotels & Hospitality Group expects the venue will be well sought-after in this typically competitive market. “Much like NSW and QLD, the Victorian gaming hotel market is a ferociously competitive one, with opportunities quickly secured when offered, especially those of such a high calibre like The Foundry,” said Connolly.

“Given there is little to no capex required, The Foundry is likely to attract new entrants to the market, as well as established operators, providing a healthy and diverse range of interest,” he concluded.

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Located within minutes to Bendigo’s CBD on busy High Street, The Foundry dominates its corner position occupying 2,972sqm with an abundance of patron car parking on-site. With its size and scope comes a healthy patron capacity of 744, complemented by a 1am General Liquor Licence.

Whilst the decision to sell has been an emotional process for the Kuchel family, they are now excited to turn the page on a new chapter for their long held hotel and help to usher in a new operator. Mike Kuchel commented, “The Foundry Hotel has been an incredible business to our family, and whilst it will be sad to move on, we’re extremely proud of the platform we have left for an incoming operator and will watch on from afar as The Foundry continues on its journey.”

Offered with a brand new lease from the freehold owners, the lease will provide long term tenure in the form of a ten-year initial term along with multiple further terms for added security.

Lachlan Persley, Executive, JLL Hotel’s & Hospitality Group, said “2023 has started strong with our Victorian pubs team fielding calls daily from parties who have signalled their desire for high performing pubs in strong regional locations. The Foundry certainly ticks these boxes and much more, offering a strong mix of revenue though its gaming, food and beverage trade.

“There is an obvious appetite in the market for assets such as these, and our team look forward to coordinating a successful campaign for our valued client,” Persley concluded.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.

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