Boutique hotel in Castlemaine with bar and restaurant hits the market
A boutique hotel in the Victorian town of Castlemaine has hit the market with a price guide between $2.4 million and $2.5 million.
The Empyre Hotel at 68 Mostyn Street, which dates to 1860 when it was built as the Albion Hotel, currently consists of six en suite bedrooms, a restaurant and bar.
“We stumbled across it about two years ago, and fell in love with the idea of a career and tree change,” said Steven DeMarchi, who bought the property with partner Justin Golightly in 2018.
The couple still work in Melbourne during the week and manage the hotel during the weekend, including opening the bar and restaurant for cocktails on Friday and Saturday nights, with someone employed to manage guest bookings during the week.
Castlemaine, around 120 kilometres northwest of Melbourne, has become an increasingly popular destination for Melburnians seeking a weekend escape within an easy commute to the city.
“It’s conveniently located – we’ve got the V/Line train station, which a 10-minute walk from the CBD of Castlemaine, and it’s a quick hour-and-a-half drive up from the Calder Freeway,” Mr De Marchi said.
The property was extensively refurbished in about 2004, when it was renamed. The six guest suites have marble bathrooms and hand-carved beds.
“It’s an artful blend of historical architecture with some contemporary touches to it. It’s got a European-style feel to it,” Mr De Marchi said, adding that his favourite features included the high ceilings, the upstairs balcony with french doors, and the chandeliers.
“The courtyard out the back with the beautiful crepe myrtle is a great place to unwind. [At this time of year] it’s beautiful to sit out there in front of the pot belly fire and watch the changes in the leaves.”
The property includes a two-bedroom manager’s apartment.
Mr De Marchi said the possibilities under a new owner were “endless”, although any plans for structural changes would need to be consistent with the property’s heritage overlay.
“It could be suitable for a whole range of different people, the opportunities are really endless here; you have a commercial kitchen so you could get an up-and-coming chef from Melbourne who wants to cook fabulous meals and run a B&B, or at the same time [you could get] people who want a tree change and to run a small B&B operation and lease out the restaurant,” he said.
The sale includes antique furniture, chandeliers and all plants and equipment, enabling immediate operation of a restaurant or accommodation venue.
The Empyre Hotel is for sale by expressions of interest closing May 25.
