Bendigo’s much loved National Hotel has sold, marking both the end of an era for its long term owners of over 20 years and yet another sign of positivity for Victoria’s regional pub market. The sale was conducted exclusively via JLL Hotels & Hospitality Group’s Will Connolly and Lachlan Persley, sold after just five weeks on market.

The sale of the National Hotel continues the recent surge of regional Victorian pub deals, with the record-breaking sale of Warrnambool’s Whalers Hotel, along with another significant Bendigo pub sale in the Foundry Hotel, representing a combined transaction value of an incredible $38m of regional pub sales.

Will Connolly, Senior Vice President, JLL Hotels, commenting “Having been meticulously maintained by the owners across their long tenure, it came as no surprise to our team of both the volume and calibre of enquiry we received throughout the sale process for ‘The Nash’.

The business has such an incredibly well-rounded mix of revenue derived from F&B trade and accommodation, whilst being underpinned by the venue’s incredible condition. It is a credit to our vendors for providing us with such a sensational asset to present to market”, Connolly concluded.

Marking the end of a storied journey for long term owners Bruce Morcom, John Russell and ‘Budge’ Russell, the sale of ‘The Nash’ signifies the start of a new chapter for the well-known trio of Bendigo publicans, with Bruce Morcom commenting, “Whilst coming to the decision to place the hotel on market was met with some trepidation, John, ‘Budge’ and I can now reflect on an incredible tenure and look forward to seeing the new ownership take the reins. We wish them every success and also thank the JLL Hotels team in delivering such an incredible outcome for us in quick fashion.”

The Nash’ offered the market a true ‘turn key’ business with genuine future upside, with thoughtfully refurbished trading zones via a large public bar and adjoining alfresco area, family bistro with 100-person seating capacity along with four function spaces. As an additional revenue stream, the venue was significantly underpinned by a thriving accommodation offering, with 24 motel units, outdoor swimming pool and indoor spa facilities.

Lachlan Persley, Executive, JLL Hotels, concluding “Whilst 2023 has had its challenges, it is clear we are now experiencing a positive spike in market activity to close out the year, which we expect to continue into 2024. We encourage pub owners and operators from either a regional or metropolitan geographic, to contact the JLL Victorian Pubs team for a confidential discussion regarding their potential divestment strategy.”

Click here to view more Pubs and Taverns recently listed for sale or sold

Bendigo National Hotel Complex for sale for the first time in 20 years - JLL