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 man has been arrested after the alleged sexual assault of a girl in Seymour in May.
Paradise Queen owner Travis Smith is preparing to take on hundreds of runners at this year’s Yarrawonga Mulwala Multisport Festival to be held on October 18-19.
As part of its continuing international development, Bega Cheese Limited signed a supply and distribution agreement on Friday, September 19, with one of China’s leading retail groups, Chongqing General Trading Group, to supply them with Bega branded UHT milk produced in Australia for distribution in China.
Echuca police officers were joined by community members at a National Police Remembrance Day serivce on Monday.
Darren Pain from Sportspower is encouraging people to support small businesses on Saturday.
National Party ticket up for grabs
Rail line manager sends out warning after trespassers get too close to tracks to take photos.
Terry Hogan has stood down as Mayor of Jerilderie Shire due to an ongoing battle with cancer.
Heathcote cheerleader Taylah Kurrle is part of the Cheer Factor All Stars team for the Duel in the Desert championship in Palm Springs, California.
International cricket superstar Adam Gilchrist becomes number-one ticket holder and junior program ambassador for local club.
Deni Ute Muster thank myriad of volunteers.
The only consistent thing about frost damage in crops was its random nature, a cropping expert told his field day audience at Finley last Friday.
Tears flowed freely from players and supporters on Sunday when Benalla lost the Goulburn Valley Football League grand final by three points.
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.