The discovery of gold in 1851 made Bendigo one of Australia’s great boom towns.
It was literally a goldmine, and Bendigo’s fame spread quickly around the world, bringing an influx of migrants to the hills and creeks of Central Victoria.
The city, which now has a population of more than 100,000, remains an accommodation goldmine more than 170 years later with its Julie-Anna Inn turning an annual net profit of $824,210.
The award-winning, 33-room independent motel has come onto the market for the first time since being built in 1986 and has an asking price of $7.5 million. David Jefferies, from ResortBrokers, said the property was returning 11 per cent on investment.
“We are delighted to present the opportunity to secure the freehold of one of Bendigo's finest motels,” Mr Jefferies said. “This truly is a dream asset.
“The current vendors were really good friends with the lady who built the property in 1986 until she passed away a year ago, and then they took on the freehold. So they are very much a part of that building and it has been really well looked after
“It’s an outstanding property that I’ve been referring to as ‘Bendigo’s big fish’.
“Not only is there 1.2ha of land but there is 81 metres of street frontage with the potential to build another couple of wings if you wanted to.
“Bendigo is on the up. It’s a big hub for the 2026 Commonwealth Games and there is big government investment in town.”
Mr Jefferies said major events had returned to Bendigo after the pain of COVID lockdowns and the Julie-Anna Inn was again enjoying bumper occupancy levels.
The recent Elvis exhibition at the Bendigo Art Gallery was a huge international success.
The Julie-Anna is just 1.4km from Bendigo's CBD, an eight-minute drive from Bendigo airport and a four-minute drive to the train station.
Mr Jefferies said the business has been bolstered by the “continuous and shrewd investment” by the current owners. All the rooms have been renovated , operations streamlined, and there has been the addition of a comfortable four-bedroom, two-bathroom dwelling onsite to accompany the existing 2.5 bedroom manager's flat.
“There is huge room for growth in the conference facility, too” Mr Jefferies said, “and scope to use and generate additional income via the additional dwelling.”
Bendigo is 150 kilometres northwest of Melbourne on the Calder Highway and one of Victoria’s most important regional cities.
Steeped in history, it boasts some of the most glorious examples of Victorian colonial architecture from the days when gold drew prospectors and mining investment from around the world. The tent city that rose up to accommodate the mining boom in the early 1850s was soon transformed into a city of mansions, glorious public buildings and artistic monuments.
Today, Bendigo also has a magnificent reputation as a gourmet destination. It has a world-class art gallery as well as the famous Bendigo Pottery and Central Deborah Gold Mine.
It also has the largest Buddhist stupa in the western world and the historic Sacred Heart Cathedral, which is a wonder to behold.
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