The Vic Hotel in Perth is for sale via Expressions of Interest by Ryan McGinnity and Aaron Desange of CBRE Hotels.
The Vic Hotel in Subiaco is being offered for sale with vacant possession in a move that represents a ‘blank canvas’ opportunity for one of Perth’s oldest hotel venues.
CBRE Hotels’ Ryan McGinnity and Aaron Desange have been appointed to sell the iconic hotel, which was first opened in 1898, via Expressions of Interest.
At a glance:
Image: The Vic Hotel in Subiaco for sale. Source: CBRE Hotels.
After taking over the hotel operations in mid-2019, the freehold owners updated equipment, revitalised the premises and created renewed interest in the venue with the addition of Rocky Ridge Brewing - all with the medium-term goal of selling the venue. Following the ease of social restrictions, and the beginning recovery of food and beverage in Western Australia, the owners have decided now is the right time to go to market.
The Vic Hotel is a well-known venue at the heart of Subiaco’s dining and retail precinct - thriving until the football and other events moved from Subiaco Oval at the end of 2017.
Image: The Vic Hotel in Subiaco for sale. Source: CBRE Hotels.
The venue, which is located on approximately 2,000sqm of land and includes 54 onsite car parking bays, last underwent substantial renovations in the 1980s and has since been operated by the likes of Black Toms and the ALH Group.
CBRE’s Ryan McGinnity said Subiaco was earmarked for a major transformation over the coming years, which would significantly benefit local businesses.
“As part of the Subi east development, the demolition of Subiaco Oval has been completed, Bob Hawke Highschool is already planning a student expansion and the demolition on PMH is underway. Once completed Subi East along with One Subiaco will be home to residential, commercial and retail activity which will transform Subiaco” Mr McGinnity said.
Image: The Vic Hotel in Subiaco for sale. Source: CBRE Hotels.
“The Vic Hotel has been part of the fabric of Subiaco for more than 120 years and we expect the opportunity of a ‘blank canvas’ hotel will appeal to many. This is the chance to reposition this hotel for the next 20 years and capitalise on the many new residents of Subiaco in coming months and years.”
Mr Desange commented: “With the hotel situated on a large land area zoned for commercial and residential use, the opportunity also exists for a mixed-use development at some stage in the future – appealing to a number of local investors and developers.”
The Vic Hotel is being offered for sale via Expressions of Interest closing August 13th.
To read more and the view the listing click here.
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