The iconic Art Deco Werribee Pub is now for sale for the first time in almost a decade7 February 2024
Colliers’ agents, Chris Nanni, Ben Young and Ben Baines, bring to market the iconic Art Deco pub, the Bridge Hotel at 197-199 Watton Street, Werribee, on behalf of owner Wyndham City Council.
Managed and renovated by the renowned MOL Pub Group (Marquis of Lorne, Union House, and Mount Erica Hotel), the 1926-built Bridge Hotel is all class, retaining the Art Deco detailing, with vintage Australiana styling as its core identity.
This is a true set-and-forget investment opportunity, as this freehold property is secured with an attractive 20-year lease until 2040, with another 20-year option, fixed 4 per cent annual increases and all applicable outgoings (including land tax) paid by the tenant.
Colliers’ Executive, Chris Nanni said: “All data indicates we seem to have hit the peak of inflation and interest rate hikes. The 2024 outlook looks to be a little more settled, with asset value realignment and potential interest rate relief to come later in the year, making 2024 the perfect time to add to your portfolio.”
“With a secure long-term commercially viable, and well-known tenant, the lease provides favourable terms and secure investment with the tenant paying all applicable outgoings including land tax. This is sure to be hot property as we enter 2024 off the back of some very successful hotel and pub investment sales around the country,” Mr. Nanni said.
Colliers Branch Manager, Ben Young, said: “This is an outstanding opportunity to purchase a property that is leased to a successful operator with a 20-year lease, fixed annual increases, and within one of the country’s fastest growing regions – the City of Wyndham. This property at 197-199 Watton Street will tick many boxes for investors.”
The property is strategically located in the heart of Werribee City Centre’s West End restaurant and entertainment precinct. It is also surrounded by several iconic brands such as the Holiday Inn, Quest, Coles, Aldi, Hungry Jacks and Nandos, as well as future residential and retail development projects.
Werribee represents Australia’s fastest-growing municipality, ideally positioned between Melbourne CBD and Geelong, offering a unique balance of City, Coast and Country. It has had a recent population growth of +87%, and a booming number of +135% new local business enterprises.
197-199 Watton Street, Werribee is being offered For Sale by Expression of Interest, closing Wednesday 14 of March 2024, at 2pm (AEDT).