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
Higher numbers of Queensland fruit fly prompts call for people to clean up gardens.
The Yarrawonga Mulwala B Grade Rams have secured the Des Johnston Shield as WDCA B Grade Two Day Premiers for season 2014/2015 with a crushing win over City Colts.
Mystery and romance abound in a new novel from leading lady of Australian women’s fiction, Fleur McDonald.
For a long time, Ben O’Dea was not sure whether he lived at the Royal Children’s Hospital or in Moama.
Rochester Football Netball Club hosted an information evening last week in collaboration with Ambulance Victoria to educate members on the correct use of the club’s defibrillator.
20th Heritage Day a hit
Councillors last night put out for public comment a draft budget which proposed a lower-than-expected increase.
Finley have now formed their own Local Health Advisory Committee.
Heathcote Primary School put on a colourful display for Easter on Friday with an Easter hat parade featuring everything from the very edible to amazingly tall.
VicRoads will review speed limits on the Murray Valley Highway in Cobram and Strathmerton following petitions calling for them to be lowered.
Leading concert artist Daniel de Borah will perform in Deniliquin tonight as part of the South West Music 2015 concert series.
Toolamba Primary School student Felix Turnbull is looking forward to seeing his face on new SPC labels that will be on supermarket shelves across the nation.
Benalla GP Paul Kelly receives an award in recognition of his 37 years as a doctor in rural Victoria.
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.