A popular South Coast watering hole with an unrivalled location is ready for new energy and ideas.
The Lakeview Hotel in Merimbula, is located within the heart of the vibrant Bega Valley Shire and slakes the thirst and appetites of more than 10,000 locals.
It’s also become a popular playground and stopping-off point for Australian holiday-makers and travellers, as well as an increasing number of international visitors.
Agent Gerry Quinlan, of Manenti Quinlan and Associates, says interest is running high as potential buyers add up the pluses.
“This is a special opportunity – waterfront hotels rarely come onto the market,” he says.
“The Lakeview is absolute water frontage and it’s a landmark building on the beautiful Sapphire Coast.”
The hotel anchors a prime position in the township and sits on the edge of Merimbula Lake at the base of the commercial precinct.
The location actually comes with some history as the original licence on the site was granted some 100 years ago.
Quinlan says the hotel is an industry “showpiece” and offers high quality food, beverage, accommodation and entertainment.
“It sits on a massive 4646-square-metre block and comes with further development opportunities,” he says.
Lakeview comprises seven motel units and a manager’s residence, a public bar, bistro/restaurant, a gaming room, beer garden, pool room, bottle shop, cellar, storage and on-site parking.
Quinlan says the hotel has a diverse income base across food, beverage, gaming and accommodation.
“The hotel’s value is clearly underpinned by its assets including 15 gaming machines, while new owners can consider some potential new income streams,” he says.
“Key opportunities could include a mixed-used residential and retail development with parking, and an information centre and cafe.
“That kind of upside is bound to be attractive to potential buyers,” Quinlan says.
“We expect strong competition both locally and interstate. The special nature of the site will also appeal to overseas investors.”
The Bega Valley Shire is one of the most vibrant in Australia with 400,000 visitors to the region annually. The region is home to some of Australia’s best known national parks and picturesque waterways.
“Merimbula is more than a tourist destination, the region is built on strong agricultural, cultural, retail and service industries,” Quinlan says.
Strong growth is projected over the next decade and the Merimbula Airport Master Plan will ensure the region develops into an international, as well as domestic, destination.