A landmark Rockhampton pub is up for sale, with buyers expected to be drawn not only to its iconic standing and diverse income streams, but its future potential.

The Victoria Tavern, at 1 & 5 Musgrave Street and 49 Bridge Street in Berserker, will be taken to the market via an Offers to Purchase campaign run by Knight Frank agents Tony Fenlon and Pat O’Driscoll.

It is being sold by Bencheer Pty Ltd as Trustee for the Langdon Family Trust, with the property having been owned by the same family – the Mitchell family - for 44 years.

The property is a two-storey building consisting of a main bar, bistro, beer garden, 20 gaming machines/authorities, and rooftop dining/function area, plus a dual lane drive-through bottle shop.

It is situated on a 3,330sq m block across three titles, with 1,728sq m of floor space in the hotel.

Price expectations are circa $5.5 million.

Family spokesperson Sue Mitchell, who is a fourth-generation publican and has run the Victoria Tavern for the past 30 years, said the Mitchell family had owned and operated many hotels and motels within the Rockhampton region for the past 60 years.

She said the Victoria Tavern was a local landmark, known for its traditional XXXX Man standing proudly over the front door.

“He has been watching the comings and goings on busy Lakes Creek Road for so many years,” she said.

“The pub is the longest running family operated independent hotel in the region and has stood the test of time as a solid business within the ever-changing hotels industry.

“The diverse mix of income streams has provided a good balance during different trading periods and economic conditions.

“Over time we have made improvements, with the property completely rebuilt in 1990, and the beer garden and function area added in 2020.”

Ms Mitchell said the hospitality and hotel industry had provided good financial rewards and a very social and comfortable lifestyle over the decades, but now was the right time for a change.

“We feel new owners could take the hotel onto the next stage of development,” she said.

Knight Frank’s Tony Fenlon said it was expected there would be very strong interest in the property during the sales campaign from potential buyers due to its location, future potential and current strength in the hotels market.

“Victoria Tavern is only 600 metres from the Rockhampton CBD and is well exposed, located on one of the busiest thoroughfares within Rockhampton, with access to North and South Rockhampton and Capricorn Coast beaches,” he said.

‘It is close to some of the biggest businesses in the area, including Ergon and two meatworks, as well as the backpackers and caravan park, and plenty of recreational facilities, including Callaghan Park Racecourse, the Rockhampton Cricket Grounds, AFL grounds, touch football fields and a junior rugby league field.

“The hotel market in Rockhampton is very buoyant, evident by the recent sales of other local hotels including The Heritage Hotel and Kalka Palms Hotel “In particular, hotels with the complete package like Victoria Tavern, including gaming, retail liquor and a strong on-premises trade, are in strong demand from buyers.

“The current owners do have preliminary plans for a liquor barn and drive through coffee shop on the vacant 1,500sq m block located to the west of the hotel.

“Rockhampton is increasingly popular with investors, who are attracted to our resilient and stable economy, and infrastructure boom, with over $3 billion in projects currently under way in the region, creating growth.”

The Offers to Purchase campaign will close at midday Wednesday 17th April 2024.

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