Published on 27/10/2015 by Punchmedia

Golden Opportunity to get into Hotels

We’re all well aware of the amount of Melbourne’s residential real estate currently for sale in what is widely considered the ‘Spring Selling Season’ but what about hotels? One golden opportunity has been flying well under the radar in the eastern suburban community of Wantirna. Recently hitting the market for sale as a freehold going concern is the imposing Golden Pebble Hotel and Restaurant. Built just 10 years ago on approx 4200sqm of land at 500 Boronia Road, Wantirna the hotel features 36 premium suites, a grand lobby with marble floors and contemporary chandeliers, a large function room and conference facilities. Selling agent Pat Connolly of Colliers International said the fact the property still had some ``depreciation in it’’ considering its age would be a big plus for potential purchasers. ``It’s just a very good property - it has everything you’d expect to see in hotels this large including the magnificent ground floor yum cha restaurant,’’ Mr Connolly explained. The restaurant itself is a popular choice in Wantirna, having been renovated just last year and currently sublet. ``Our agency deals a lot in this area but there doesn’t seem to be a lot of pubs and hotels for sale out this way in comparison to say Fitzroy and Richmond,’’ Mr Connolly said. ``This really is a well-rounded property and the fact it is only 10 years old is a real bonus.’’ According to its website, The Golden Pebble is a four star hotel that is perfect for the corporate traveller or as a relaxing getaway at the gate way to the Yarra Valley – Colliers International have put an asking price of $12,000,000 on the property.

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Curtis is a leading expert in the business-for-sale industry, serving as a senior content creator at anybusiness.com.au.

With a career spanning over fifteen years, Curtis has accumulated extensive knowledge in the domain of business sales, acquisitions, and valuations. His deep understanding of market dynamics and his ability to translate complex industry jargon into accessible insights make him a trusted resource for entrepreneurs and business owners looking to buy or sell businesses.

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