Colliers’ agents, Chris Nanni, Ben Young and Ben Baines, have brought to market the iconic Art Deco pub, the Bridge Hotel at 197-199 Watton Street, Werribee, on behalf of owner Wyndham City Council.
Managed and renovated by the renowned MOL Pub Group (Marquis of Lorne, Union House, and Mount Erica Hotel), the 1926-built Bridge Hotel is all class, retaining the Art Deco detailing, with vintage Australian styling as its core identity.
This is a true set-and-forget investment opportunity, as this freehold property is secured with an attractive 20-year lease until 2040, with another 20-year option, fixed 4 per cent annual increases and all applicable outgoings (including land tax) paid by the tenant.
Colliers’ Executive Chris Nanni, said, “All data indicates we seem to have hit the peak of inflation and interest rate hikes. The 2024 outlook looks to be a little more settled, with asset value realignment and potential interest rate relief to come later in the year, making 2024 the perfect time to add to your portfolio.”
“With a secure long-term commercially viable, and well-known tenant, the lease provides favourable terms and secure investment with the tenant paying all applicable outgoings including land tax. This is sure to be hot property as we enter 2024 off the back of some very successful hotel and pub investment sales around the country,” Mr Nanni added.
Colliers Branch Manager Ben Young, said, “This is an outstanding opportunity to purchase a property that is leased to a successful operator with a 20-year lease, fixed annual increases, and within one of the country’s fastest growing regions – the City of Wyndham."
The property is located in the heart of Werribee City Centre’s West End restaurant and entertainment precinct and is surrounded by several iconic brands such as the Holiday Inn, Quest, Coles, Aldi, Hungry Jacks and Nandos, as well as future residential and retail development projects.
Werribee is Australia’s fastest-growing municipality, ideally positioned between Melbourne CBD and Geelong, offering a unique balance of City, Coast and Country. It has had a recent population growth of +87% and a booming number of +135% new local business enterprises.
197-199 Watton Street, Werribee, is being offered For Sale by Expression of Interest, closing Wednesday, 14 March 2024, at 2 pm (AEDT).
