Benalla's Commercial Hotel remains unsold after being passed in at auction last week.MONIQUE FREER May 28, 2014 3:49am
The future of Benalla’s Commercial Hotel is yet to be determined after it was passed in at auction last week.
The popular venue closed in March after being in receivership since February 2013.
About 50 people gathered at an on-site auction last Wednesday, but were disappointed when the hotel was passed in at $600
The auction opened with a vendor bid at $600
However, agents were in discussion with an interested party immediately after the auction.
Negotiations continued with several interested parties this week.
CRE Brokers business and property salesman Scott Connolly said he was disappointed the property did not sell at auction.
‘‘It’s disappointing in the sense that it’s a long way to drive for people to not put their hands up,’’ he said.
‘‘We’ve got a couple of groups in discussions at the minute so we’re just working on an offer.’’
There was a reserve on the property, however Mr Connolly would not disclose the figure.
‘‘A pub like this, it stacks up to being worth about 800 grand. It could have gone anywhere from a million to $600
‘‘The negotiation is just on price at this stage, there was nothing plant or equipment-wise that anyone was querying.’’
Prior to the auction Mr Connolly said there were between 20 and 30 people interested, and the hotel was likely to be kept as a hospitality business.
The hotel was advertised as large commercial building and land in the main street of Benalla.
Some of its selling points included a bistro, sports bar, function room, decked beer garden, commercial kitchen with wood-fired pizza oven, hotel accommodation rooms, manager’s quarters and off-street parking.
The building was also to be sold with plans and permits approved to build a five-storey mixed use development.
The asking price is $750
A Mitchell Starc signed Australian cricket shirt and signed bats will be up for auction tonight at St George's Rd Primary School as part of raising funds for the Hands for Help Nepal charity.
Local kayaking athletes Brea Roadley and Kayla Whinray have continued making a splash in their sport on both a national and international level.
Tatura’s St Vincent de Paul Society has made a sizeable donation to Sacred Heart School community for 2015.
A woman who had been riding a motor scooter was airlifted to Melbourne this evening after colliding with a car on the Northern Hwy outside the All Rivers Motor Inn.
Campaspe Valley Community Centre played host to Audrey Hepburn, Little Red Riding Hood, Napoleon Dynamite and even the Titanic recently.
Jackson Gentle beats younger sibling Cooper in thrilling Parkland decider
What will it take for politicians to start taking Nagambie's case for an ambulance seriously?
Record cattle prices were recorded at the Finley Saleyards on Friday
City of Greater Bendigo is urging district residents to visit St John’s Anglican Church in Heathcote to celebrate the centenary of architect William Vahland’s death.
It was a dream start to Picola’s interleague campaign on Saturday, with the under-17 team notching up an impressive 91-point victory.
Gov’t overhauls GP incentive scheme.
There may never be a solution to the Murray-Darling Basin and managing its water — Australia’s greatest natural asset.
Victorian Greens Leader Greg Barber tells The Ensign, producers should oppose the sale of the long term lease of the Port by the Andrews Government.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.