MELBOURNE, AUGUST 27, 2019 – JLL Hotels & Hospitality Group has been appointed to sell the Hotel Victor located in the heart of Victor Harbor, South Australia’s most popular seaside town on the spectacular Fleurieu Peninsula.
Located just an hour from Adelaide’s CBD, the Hotel Victor provides accommodation, dining and gaming in a modern and relaxed atmosphere with stunning views overlooking the bay.
The campaign will be managed by JLL Vice President – Investment Sales, Will Connolly, and will be offered to the market as a freehold going concern with Expressions of Interest sought by Thursday 3rd of October.
Offered for sale on behalf of long-time owners, the Virgin Family commented “Born and bred in the area, our family has a strong connection with the Hotel Victor. When the opportunity to purchase arose, it was an unmissable chance to own this iconic hotel.
“For us, it’s an easy drive from the city to this gorgeous spot. With sunrise over Encounter Bay and sunset over the Bluff, it’s our piece of paradise. Swimming at Horseshoe Bay, walking the Heysen Trail, the Tour Down Under cycling; this place holds beautiful memories and we’re certain any purchaser will create many more.”
The well-presented hotel occupies a total site area of approximately 4,490sqm (including bottle shop site) and offers 33 well-appointed guest rooms, a newly renovated bar & bistro, large bistro/dining room, 34 gaming machines (with approval for 40), conference/function facilities and a late 2am trading licence. Included in the sale is a modern 3-lane, drive-through bottle shop located on a separate site of approximately 1,403sqm.
With Mr Connolly adding “The offering of the Hotel Victor comes at an extremely positive time for South Australia. With the State Government committed to boosting the tourism dollar as recently announced in the 2019-20 State Budget.
“An extra $30 million has been allocated to promote the State as a premier tourist destination. This is in addition to $13 million already injected into the marketing campaign. The government will also be investing an initial $20 million towards construction of a new Granite Island Causeway which is Victor Harbor’s main tourism drawcard, making this an opportune time to take the Hotel Victor to its net stage.”
With the benefit of vacant possession, the sale of Hotel Victor represents a rare opportunity to enter the hotel market so close to Adelaide, whilst offering management flexibility and the potential for further development (STCA).
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $77.5 billion worldwide. Between negotiating the world’s most extraordinary, enticing, and profitable property deals, the group’s 350-strong global team in over 20 countries also closed more than 5,300 advisory, valuation and asset management assignments. Investors worldwide turn to JLL to shape their strategies, tailor their portfolios and maximise the value of their assets. We are recognised as the global leader in real estate services across hospitality properties of all shapes and sizes. Our expert advice is backed by industry-leading research. We apply our broad spectrum of hotel valuation, brokerage, asset management and consultancy services through every phase of the hotel lifecycle. We have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world. Whether you are looking for a hotel or you’re ready to sell, we’ll use our capital markets expertise, hospitality industry knowledge and global relationships to put the right parties together and execute a bespoke deal that exceeds your objectives. For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality, download the Hotels & Hospitality Group app for iOS and Android.
Contact: Will Connolly
Phone: +61 432 116 287
Contact: John Musca
Phone: +61 424 257 004