2 Ashwood Avenue, Bright, Victoria

FREEHOLD - Hara House, Bright VIC - 1P0613

Freehold Going Concern - $8,495,000

Business Description

MHB is positively thrilled to present the freehold going concern sale of Hara House, Bright.

A rare example of hospitality excellence and execution – A unique benchmark accommodation precinct with no detail overlooked or expense spared.

Key Features:

* 22 magnificently appointed rooms and suites, infusing modern mid-century architectural designs with nostalgic Australian influences – a work of art and creative genius.

* Strong lifestyle-focused guest proposition featuring high end, resort-style facilities – pool and bar, sauna, tennis court, firepit, bikes and onsite spa.

* Full restoration undergone in 2022 - to create Bright's first boutique style hotel - a space that's connective, exhilarating and captivating by design.

* Bright is one of Victoria's leading year-round regional tourism destinations, benefiting from a diverse visitor economy across alpine activities, cycling, adventure tourism, food and wine, and a strong events calendar.

* On-site dining and beverage offering via Pepperberry, showcasing modern Australian cuisine, local produce and regional cool-climate wines, providing an additional revenue stream and enhancing the guest experience.

* Top-performing asset with - year on year revenue growth of 10% annually since the 2023 genesis of this masterpiece.

* An AVERAGE DAILY RATE of $270 – with occupancy of 50% demonstrates the growth corridor underway for future business.

* High-performance business model with potential to grow food & beverage and wellness offering.

* Growth opportunity with development approval for 8 extra double story units and a cafe (has since lapsed but option to reinstate).

* Nestled in the heart of North-East Victoria, Bright is one of Australia's most sought-after year-round destinations offering an exceptional foundation for a high-performing motel investment.

To make an enquiry or arrange an inspection, contact Dan McDonald direct on ---------- .

Business Summary

Other Features / Notes

EXCLUSIVE, FREEHOLD GOING CONCERN, Motel, VIC - North East

Marketing Agent

Dan McDonald

Bennett Mountjoy

McDonald Hospitality Brokers (MHB)

Key Investment Insights

AI generated. Confirm details with the seller.

1. Freehold going concern comprising Hara House, a 22 room and suite boutique accommodation precinct in Bright.
2. Full restoration completed in 2022, creating Bright’s first boutique style hotel with distinctive mid century design and Australian influences.
3. Lifestyle focused facilities include a pool, bar, sauna, tennis court, firepit, bicycles and onsite spa.
4. Pepperberry provides onsite modern Australian dining, local produce and regional cool climate wines, adding a further revenue stream.
5. Reported revenue growth has averaged 10% annually since the business commenced in 2023.
6. Average daily rate of $270 and 50% occupancy indicate capacity to pursue further accommodation growth.
7. Bright offers year round tourism appeal through alpine activities, cycling, adventure tourism, food and wine, and events.
8. Development approval for eight additional two storey units and a cafe has lapsed, with an option to reinstate it.
9. The property combines accommodation, dining, beverage, wellness and resort style facilities within one integrated destination.