High country favourite listed for sale as investors push to the bush
Melbourne – February 11 2022 – Popular Victorian High Country property the Snowline Hotel has been listed for sale, providing an opportunity to secure a well-established hospitality asset at the base of Mount Hotham.
CBRE Hotels has been appointed to market the prominent Harrietville property and business, which has been owned and operated by Bennett Mountjoy and his wife Anna for the past 14 years.
“The Snowline benefits from the High Country’s now all year-round tourism industry. It is situated a short 20-minute drive from Bright in an area which has experienced exponential growth, underpinned by an influx of permanent residents and holiday makers,” CBRE Hotels Director Mathew George said.
“The current owners have streamlined the Snowline Hotel considerably since moving to Harrietville, establishing the asset as a regional hotel that doesn’t need the daily presence of an owner. By implementing numerous automated systems, they’ve have had the ability to step back from the day-to-day operations in recent years and have a great management team in place, making it an attractive proposition for a wide range of investors and owner-operators.”
Mr George noted that the property had consistent, all-year trade and offered multiple income streams from its bar and dining facilities and 16 accommodation rooms.
It is situated on a large site area of circa 3,315sqm, benefits from a general licence until 1am and offers avenues to expand with potential to further develop the site subject to planning approvals.
“With an asking price of $2.75m+, the Snowline provides a very attractive return amid a continued ‘push to the bush’, which has been demonstrated by recent sales such as the Sir George in Jugiong and the Northside in Albury,” Mr George said.
The freehold and business are being sold via an Expressions of Interest campaign, closing Wednesday, 16th March 2022 (if not sold prior).