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.
Two men charged over the armed robbery of a Shepparton service station have been remanded in custody until next week.
The 2014 Yarrawonga Mulwala Multisport Festival has been hailed a huge success by organisers and participants alike.
The fifth annual King Billy Retreat Open Garden Party will be held at Rushworth on Saturday and Sunday, October 25-26, from 10 am to 4 pm.
Echuca College students Calum Pearson, Luke Judd, Kiriana Epararma, Harriet Nilon, Kyle Melhuish and Stephanie Chong are heading to China.
A former Rochester resident is helping women with their confidence and their horses.
Accusations of bullying, disrespect and dangerous conduct.
And the school's best all-rounder for this year.
Finley's Mark Whiley has been traded from the GWS Giants to Carlton - the club he has supported all his life.
District residents are being invited to enjoy Oktooberfest celebrations at Tooborac Hotel and Brewery.
Momentum builds for the greatest show in Cobram, with young and old expected to lap up family attractions in sunny conditions.
Water users have welcomed the governments' announcement of a $350 million package for new irrigation efficiency programs in NSW, but say water availability is in need of improvement.
Farmers and anyone interested in big boys’ toys will be fascinated to check out an unmanned helicopter in action at an Ardmona orchard.
Judge comments, If I were single, I'd marry this steak!
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.