Boutique Barossa Valley hotel with upside for sale by JLL – The Wine Vine Hotel, Tanunda, Barossa Valley
The Wine Vine Hotel, situated in the heart of the Barossa Valley in the historic town of Tanunda, is being offered for sale by JLL Hotels & Hospitality Group via Expressions of Interest.
The Wine Vine Hotel is a 40-key freehold going concern that offers rare scale in the Barossa Valley, an iconic Australian tourism destination. Given the substantial site area and recent re-positioning of the property, the Wine Vine Hotel provides multiple opportunities for upside. The sale process for the hotel is being conducted by Gareth Closter, Senior Vice President, and Nick MacFie, Vice-President, of the JLL Hotels & Hospitality Group.
The Wine Vine Hotel is a rare opportunity to secure a freehold going concern hotel in the historic town of Tanunda, just under 1 hours’ drive from the Adelaide airport, in the heart of the Barossa Valley. Situated on a 1.3-hectare site, the hotel provides further upside opportunity through adding extra rooms or subdividing into several residential blocks (STCA).
“Following the extensive renovation and re-naming of the property, completed in March 2022, The Wine Vine Hotel is enjoying strong trading on a month-by-month basis,” Mr Closter said. “Whilst the trading of the hotel has improved and increased, there is still significant scope for further upside as the property continues to establish itself as a market leading product,” continued Mr Closter.
The Wine Vine Hotel is on track to produce a net operating profit of $950,000 p.a. (approx.) for FY 2023 and is yet to reach its full potential. The property is being sold with vacant possession of brand and management and would suit an array of potential buyers.
The Barossa Valley is one of the world’s great wine producing areas, boasting more than 150 wineries and 80 cellar doors, and is a genuine tourism staple in the Australian market.
“The Wine Vine Hotel presents a rare opportunity in the tightly held Barossa Valley to secure a property that suits an array of different buyer groups, whether that be adding to an existing portfolio, or a new entrant looking to enter the hotel market,” Mr MacFie commented.
“This property would benefit greatly from the systems and marketing that a larger group or operator could provide, especially given the large reliance on OTA bookings under the current operation of the hotel,” said Mr MacFie.
The Wine Vine Hotel is being offered for sale via Expressions of Interest closing Friday 2nd June 2023.