One of Ballarat’s most prominent hospitality assets, the Golden City Hotel, has been listed for sale through Burgess Rawson agents Romanor Falconer and Raoul Holderhead.
Established in 1856 and located in the heart of Ballarat’s CBD at 429 Sturt Street, the Golden City Hotel has been a fixture in Ballarat’s hospitality scene for generations.
The beautifully renovated two-storey Victorian building is fully leased to an experienced operator and trades seven days a week across a range of services including breakfast, lunch, and dinner. The venue features a large bistro, bar, café, conference and event spaces, as well as alfresco dining areas—making it a go-to destination for locals and tourists alike.
The property is secured by a renewed five-year lease to 2029, with further options extending through to 2054. It is offered on a net lease with the tenant covering all standard outgoings excluding land tax, delivering a current net income of $388,589 per annum plus GST. Annual CPI rent reviews add to the investment’s long-term appeal.
Positioned on a high-exposure 567sqm corner site zoned Commercial 1 (C1Z), the hotel boasts a 56-metre frontage to Sturt and Dawson Streets and benefits from around 8,000 passing vehicles daily. The site sits directly opposite Central Square Shopping Centre, anchored by national retailers including Myer, Big W and Woolworths, and is a short walk to the Ballarat Train Station and Federation University campus.
Mr Falconer said the Golden City Hotel is one of the most recognisable buildings in Ballarat, offering a blend of heritage charm and strong commercial fundamentals. The combination of an occupancy dating back 169 years, well-maintained building and strategic CBD location makes it a smart acquisition for investors seeking both character and immediate income.
Mr Holderhead said Ballarat’s growing population and tourism sector add further weight to the offering. As the capital of Western Victoria, Ballarat is forecast to grow by 32% to more than 164,000 residents by 2046, creating long-term demand for hospitality services and centrally located real estate.
The iconic venue will go under the hammer as part of Burgess Rawson’s Investment Portfolio Auction 176 on Wednesday 14 May at Crown Casino.
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