UNDER CONTRACT - 50674L
You'll find the Ascot Vale Hotel dominating the junction of Mount Alexander Road and Ormond Road in Moonee Ponds. As their web site says, they have been around for 130 years but now have a great following not only with the locals but also within the live music scene.
There is a huge private car park to the rear of the venue which makes it very easy for those coming to see bands and also to pick up the car the next day. The infamous Tramstop bar has the stage , its own bar and then various seating areas both bistro dining and boothed. To the rear of this area is access to the enclosed courtyard. Opposite to the Tramstop Bar is the public bar , a quieter part of the hotel where the locals can enjoy a drink and game of pool. A well equipped commercial kitchen supports both bars and this has just been sub leased for five years.
Upstairs there is long and short term accommodation in the form of a one bedroom flat and six single rooms. Income from these rooms is on average over $1000 a week which almost covers the hotel rent that is less than $1700 a week including GST. There are fifteen years left on the lease made up of 5x5x5. The hotel has a general licence till 1am with a capacity of 200 with the additional capability to serve residents and also off premises. There are no security restrictions. All fixtures and fitting are included in the sale.
The vendor is looking for offers in the region of $195,000 for the venue. This venue is now UNDER CONTRACT.
Hotel InformationRestaurant Facilities: -Liquor Licence: -Restaurant: -Lease: -
Other Features / Notes
A:LEASEHOLD, B:HOTEL/BAR, C:VIC - Melbourne