Government-backed Vibe Hotel Marysville on the market
A Marysville hotel built after most of the town was destroyed in the Black Saturday bushfires of February 2009 is on the market with expectations around $15 million.
The 101-room Vibe Hotel, designed by architecture firm Metier3, was built from local timber and stone with the help of the Victorian government on the site of the former Cumberland Guest House at 32-42 Murchison Street, which was lost in the fires.
The 18,260-square-metre property includes conferencing facilities, a heated pool, tennis court, gym, sauna and day spa.
Since opening in February 2015, the hotel has operated under a management agreement with TFE Hotels – the joint venture between Toga and Far East Hospitality.
Photo: Supplied
Colliers International’s Stephen Burt and Guy Wells, in conjunction with Michael Simpson and Nic Simarro, of Savills Hotels, have been appointed to sell the hotel.
Mr Wells said the hotel was supported by the local community as well as Australian and international tourism.
The hotel would suit an investor who could then appoint their own external operator or an owner-operator looking for a boutique hotel opportunity.
Photo: Supplied
“The hotel is the economic and social focal point of the township, providing financial, employment and social infrastructure benefits to the community,” Mr Wells said.
Tourist drawcards around Marysville, which is about 90 minutes from Melbourne by car, include the Yarra Valley, Healesville and the Lake Mountain alpine resort.
State government support has continued since the hotel opened, with the Department of Environment Land Water and Planning, Ambulance Victoria, Murrindindi Shire Council, VicRoads, Country Fire Authority, Outlook Victoria, Department of Premier & Cabinet, Victoria Police and Parks Victoria among the organisations that have held conferences at the venue.
Purpose-built facilities include 445 square metres of flexible conference and pre-function space for up to 480 people.
Photo: Supplied
Amenities include a heated pool, tennis court, gym, sauna and day spa. The Radius Bar and Grill may be leased separately to another operator.
Savills’ Mr Simpson said many tourists used the hotel as a base during winter for cross-country skiing and tobogganing at Lake Mountain, 20 kilometres away.
“The area is also well known for its markets, both in Marysville and surrounding towns, as well as its mountain and scenic bike riding, walks, waterfalls and famous wineries,” he said.
Colliers’ Mr Wells said the property was available with the opportunity for vacant possession.
- Expressions of interest for the property close at 3pm on June 23, 2016.
With The Australian Financial Review
