Pub ownership shuffles

By Tina Seirlis

It appears that a changing of the guard is making its way through local pubs across the Shire with a number of properties on the market either as freehold or leasehold. Properties undergoing some level of change have cropped up from east to west.

Although timing may be coincidental, some may speculate whether the common denominators are continued post-COVID burnout, increased property costs, the long cold winter, or potentially all of the above.

In turn there are sure to be many takers seeking the opportunity to try their hand at the role of local publican or commercial landlord, and perhaps that once-in-a-lifetime chance to live the dream in a charming country town where ‘everybody knows your name’.

Anecdotally, a successful local pub with great atmosphere and dependably delicious food can be the making of any small town, turning it into a must-visit weekend lunch destination for tourists, and a consistently strong dinner destination for locals.

The Moorabool News delved into commercial property websites to discover that Flanagans Hotel leasehold in Bacchus Marsh is currently for sale. The Hotel’s current trade is said to average $40,000 per week, with suggestions that increased income could be sourced from the addition of accommodation with works near completion. The price tag of $650,000 is said to be negotiable within reason and includes the licence, goodwill, furniture, plants and equipment.

The Blackwood Hotel was also located with published information outlining it had been sold on 30 June, with the freehold and business packaged as a ‘going concern’ inclusive of adjacent vacant land. Prior to this time, offers were sought targeting buyers under $1million.

Looking across to Ballan, the Commercial Hotel’s leasehold is currently available for $495,000.

Further west the Shamrock Hotel in Dunnstown has its freehold opportunity available for the first time in over 50 years for $850,000. The property offers a dual income opportunity from the Hotel and attached house.

The Moorabool News also identified The Greendale Country Pub is already said to be under-offer as a tenanted investment.

With so many changes afoot, Shire residents will ultimately be the winners benefiting from refreshed venues and new menus, but likely with fingers crossed that the humble parma still gets a guernsey.

Prospective buyers should of course undertake the necessary due diligence and seek any legal and financial guidance from those appropriately employed to do so.