Abbotsford’s The Retreat Hotel, best known for featuring in The Sullivans television series, will go under the hammer in March and is expected to fetch over $2.5 million.
The historic pub, at 226 Nicholson Street, is being sold as freehold vacant possession by the Fermanis family.
CBRE Hotel’s Will Connolly and Scott Callow have been exclusively appointed to market the property, with Mr Connolly noting the property’s ‘blank canvas’ presents an exciting opportunity for owner operators who have a vision for the hotel’s next phase.
“Without a doubt, The Retreat Hotel is one of the most affordable freehold pub opportunities currently available in today’s market. Its affordability will allow a greater cross section of buyers to secure the site and utilise the property immediately due to its vacant possession,” Mr Connolly said.
Mr Callow added: “The hotel has an enormous amount of history and cultural significance to the area, so while our priority is achieving the best possible result for our vendor, it’s also important that we respect the property as a local landmark during the entirety of the campaign.”
Built in 1915, the federation styled two-storey pub is situated on a 308 sqm corner block and has Heritage Overlay restrictions. There is, however, flexibility for alternative use due to the Neighbourhood Residential zoning and generous site access. Features of the hotel include a ground floor dining area with an open fireplace, multiple second-storey rooms ideal for office conversion, a commercial kitchen and outdoor space.
The property is situated just four kilometres outside of the Melbourne CBD and is within close proximity to prominent tourist locations including Crown Casino and the Melbourne Convention Centre.
The Retreat Hotel is to be sold via auction on Friday, March 2, at 12:30pm.
For Australian/international news or global stories, follow us on Twitter: @cbreaustralia
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.