Benalla's Commercial Hotel has been purchased by local property developer Willie Van Wersch.MONIQUE FREER June 25, 2014 3:30am
Benalla’s Commercial Hotel will remain a local icon after it was purchased by Benalla resident Willie Van Wersch this month.
The property developer said he planned to revamp the hotel and retain it as a hospitality business.
‘‘I had a look and saw it had massive potential,’’ Mr Van Wersch said.
‘‘We’re doing a great big demolition out the back and a massive extension out the back and we’re going to be doing a lot of work — and it’ll be very different when it reopens.’’
The popular venue closed in March after being in receivership since February 2013.
CRE Brokers co-director Hugh Roberts said the sale was finalised on June 13, after two parties pursued the purchase.
Neither Mr Roberts nor Mr Van Wersch would disclose the sale price.
‘‘It was a fair price in the current market, but two different parties were pretty much bidding for it at the same price,’’ Mr Roberts said.
The asking price was $750
The property was passed in at auction at $600
Mr Van Wersch said his interest in the purchase increased after the auction.
‘‘This is a project that I don’t want to keep secret because in the long run I’ll need staff,’’ he said.
‘‘I bought it with the intent to revamp it and do some extensions, taking the lake and the view into consideration.’’
Mr Roberts said the hotel was sold with plans and permits approved to build a five-storey mixed use development that would expire in August.
However, Mr Van Wersch said he did not intend to use the permits, instead focusing on restoring the hotel to its full potential.
Mr Roberts said the settlement was likely to be 120 days.
Mr Van Wersch said no clear timeframe for the work had been established yet, however he hoped to reopen the business as soon as possible.
Greater Shepparton City Council has responded to a Facebook post slamming the organisation’s pound euthanasia rate.
The Australian Cricket Association has made the decision to postpone the Masters events scheduled for Yarrawonga this weekend in light of the serious injury to Australian cricketer Phillip Hughes.
Last week Victorian Collections passed a major milestone, with the 50000th historical object record from the state’s heritage collections uploaded to the site.
Shaun Burke, Paul Margetts, John McPherson, Peter Nesbitt and Keith Baillie spoke at Tuesday's Campaspe Shire White Ribbon Day event.
Rochester Secondary College students have finished their final exams, taking the time to relax.
Candidate for Northern Victoria Robert Danielli lays out the issues facing the region
The porblems of recent years hopefully a thing of the past.
No luck for Finley in Murray Valley cricket.
Heathcote and District Community Bank Scholarship recipient Tarlyn Grant is encouraging others to apply
A soaring new sculpture is on track to bring pride, visitors and environmental awareness to Katamatite.
SunRice chair Gerry Lawson announced his pending retirement from the board overnight.
A spring Future Orchards walks will be held at Coomboona on Friday November 28 from 9.30am.
The surpsingly vindictive but highly satisfying sport of croquet is being enjoyed by more residents of Benalla the the Lawn Tennis and Croquet Club.
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.