History under the hammer

HOT PROPERTY: Real estate agents are tipping the Redesdale Hotel to reach $1 million at auction on Sunday.

HOT PROPERTY: Real estate agents are tipping the Redesdale Hotel to reach $1 million at auction on Sunday.

Redesdale Hotel up for weekend auction

RELATED: Historic pub fails to sell at auction

CENTRAL Victoria continues to offer up heritage property for sale with the Redesdale Hotel set to sell at auction.

The prominent hotel, well-known in recent years as a popular bar and foodie destination, is on the Kyneton to Heathcote Road, midway between the two towns.

The freehold is offered complete as a going concern and agents Peter Moore Hotel & Leisure Broker of the Melbourne Commercial Group, in conjunction with Arch Staver of agents Nelson Alexander, tip the property to reach the $1 million mark.

The distinctive 250 square metre single-storey bluestone hotel building is set on more than 9100 square metres of professionally landscaped grounds within one of Victoria’s more popular wine regions.

It features a commercial kitchen complete with fixtures and fittings, a two-bedroom bed and breakfast unit called The Mews, which was used as onsite accommodation by the owners, and several other outbuildings.

There is also a transferrable liquor licence.

“We are simply saying buy this property, turn on the lights and commence trading, as everything is in place, including the buildings and the commercial kitchen itself which has been extensively remodelled in recent years, plus all the fixtures and fittings on a going concern basis,” said joint selling agent Peter Moore.

We are simply saying buy this property, turn on the lights and commence trading, as everything is in place ... - Peter Moore

“The Redesdale Hotel has until recently been a well-known dining destination but we consider that an accomplished food and beverage operator designing a bistro, casual or seasonal menu to suit, should be able to quickly re-establish a successful business.

“The vendor is submitting the property for auction sale with quite reasonable price expectations and my assessment is that the auction sale should approach the $1 million mark,” Mr Moore said.

Several other landmark buildings in central Victoria are also on the market.

The Redesdale Hotel will be auctioned on site on Sunday at 11.30am.

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