191 Barker Street, Castlemaine, Victoria
Cumberland Hotel - Leasehold Hotel with 30 Electronic Gaming Machines
Leasehold $5,750,000
Business Description
A rare opportunity to secure one of the largest and most iconic hotels in Victoria's historic goldfields region.
The Cumberland Hotel enjoys a prime corner position on the main street of Castlemaine - a thriving town known for its vibrant arts community, rich gold rush heritage, and growing reputation as a destination for food lovers.
As the only venue in Castlemaine with gaming facilities, offering 30 electronic gaming machines (EGMs), The Cumberland presents an unparalleled business advantage and long-term operational security.
The beautifully renovated ground floor offers a thoughtfully designed and cohesive hospitality experience. It includes a stylish public bar complete with TAB facilities, a spacious and inviting bistro that features a dedicated kids' play area, a separate private function room ideal for events, a modern and discreet gaming room, and an expansive beer garden that also offers TAB amenities.
With a secure lease in place offering options through to 2071 (20 years + 20 years + 10 years), this is a standout leasehold opportunity for a savvy operator seeking a premium, high-performing asset in regional Victoria.
Business Summary
Other Features / Notes
A:LEASEHOLD, B:HOTEL/BAR, C:VIC - North, C:VIC - WestKey Investment Insights
1. Prime corner main-street location in Castlemaine, providing high visibility and foot traffic.
2. Only venue in Castlemaine with gaming facilities, offering 30 electronic gaming machines, a unique and defensible revenue stream.
3. Secure long-term lease with options through to 2071, providing ownership stability and planning certainty.
4. Recently renovated ground floor delivering a cohesive, modern hospitality fit-out ready for trading.
5. Multiple income channels including EGMs, TAB facilities, public bar trade, bistro dining, private functions, and beer garden trade.
6. Public bar and beer garden both equipped with TAB, enhancing wagering revenue potential across indoor and outdoor spaces.
7. Bistro includes a dedicated kids’ play area, broadening family appeal and daytime trade opportunities.
8. Separate private function room suited to events, corporate and community bookings, supporting ancillary revenue.
9. Positioned in a thriving regional centre known for arts, gold rush heritage and a growing food destination reputation, supporting tourism and local patronage.
10. One of the largest and most iconic hotels in Victoria’s historic goldfields region, offering brand strength and destination appeal.
11. Leasehold hotel classification in VIC North/West region, suitable for a savvy operator seeking a premium regional asset.
