Kooroora Hotel, located on The Avenue, Mount Buller in Victoria, has been sold for $3.8 million through Burgess Rawson from CBRE’s Raoul Holderhead and Mark Foster in conjunction with John Castran of Castran Real Estate.
Mr Holderhead said it was a strong Expressions of Interest campaign that attracted 27 enquiries before the asset sold to a local investor.
The vendor, Kooroora Holdings, is associated with the Grollo family, a prominent and respected Victorian property development family with a long history of delivering some of our most iconic projects.
The property comprises an 811-square-metre site situated in the heart of Mount Buller’s Village Square. The hotel features a fully leased tenancy with a long-term operator, offering a licensed bar/restaurant and basement night club with secure onsite parking. It is located underneath the Kooroora Apartments building and guest accommodation facility which includes approximately 18 rooms.
The hotel operates year-round, capitalising on Mount Buller’s status as a premier alpine and tourism destination.
The Kooroora Hotel is secured under a new eight-year lease commencing in 2024, with two further five-year options that could extend occupancy through to 2042. The property generates a net annual income of $259,192 plus GST, underpinned by fixed annual rent increases of 3.5 per cent. The tenant is the Maisano Group, an experienced hospitality operator with more than 30 years in the Victorian Alps region, ensuring stable and professional management of this prominent alpine venue.
Mr Foster said, “The sale of the Kooroora Hotel confirms the strong investor demand for well-located hospitality assets in key regional centres. The property’s secure lease structure and prime position within Mount Buller’s tourism precinct made it a highly sought-after asset.”
Mr Castran added, “This transaction highlights Mount Buller’s ongoing appeal as a destination for both visitors and investors. The Kooroora Hotel benefits from consistent year-round trading and a loyal customer base, underpinning its strong investment fundamentals.”
Mount Buller is one of Victoria’s premier alpine resorts, attracting over 300,000 visitors annually. It offers a full range of winter sports and year-round tourism activities, supported by a strong local economy driven by hospitality, accommodation, and retail sectors.
The town’s limited commercial property supply, combined with high seasonal demand, makes assets like the Kooroora Hotel highly sought after by investors seeking stable income streams from tourism-focused hospitality venues.
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