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Victor Harbor pub sells for $9 million

Business

Iconic south coast pub the Hotel Victor has been sold for $9.3 million to a group of owners from Goolwa’s Corio Hotel.

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Previously owned by the Virgin family, it will be the first time the seaside hotel has changed hands in 30 years.

Located on The Esplanade overlooking the Victor Harbor’s central park, the 3.5 star Hotel Victor features 33 guest rooms, a large public bar, restaurant/bistro, gaming lounge with 34 gaming machines with a permit for 40.

It has a large conference/function facility and separate three-lane drive-through bottle shop.

The sale has been almost six months in the making with JLL calling for expressions of interest in September.

JLL’s Vice-President of Investment Sales Will Connolly said the potential to redevelop the nearly 4500sq m site had generated interest from not only hoteliers but also property land bankers.

“The landscape is changing. Pubs are often located in prime spots – the beach front, in the CBD, and often corner blocks as well,” he said.

“The future development potential is extending the attraction of these assets well beyond your traditional hotelier.”

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