Under instructions from Korda Mentha as Receivers and Managers, the historic Prince of Wales Hotel in Bunbury’s CBD (41 Stephen Street Bunbury), and the Dalyellup Ale House located 15 kilometres south of Bunbury, are brought to the market by Axia Corporate Property’s, Wayne Mitsikas and John Garland.
Constructed in 1884, the Prince of Wales Hotel has arguably been operating as Bunbury’s premier entertainment venue for over 25 years and holds a license for 400 patrons. The hotel is inclusive of an entertainment lounge, sports bar, restaurant, function room, alfresco area, board room, onsite parking and 26 accommodation units, which combine to provide multiple income streams.
According to Axia’s John Garland, the hotel offers a unique opportunity for an experienced publican or hotelier to return the iconic venue to its former glory days.
Similarly, the Dalyellup Ale House located within the Dalyellup Beach residential sub-division is foreseeing positive commercial benefits as a result of strong residential growth.
Located on the coastal side of Bussell Highway, the venue is licensed to accommodate a 200-person capacity across the 1,259sq.m licensed area.
An application to increase this figure to 400 people has recently been submitted.
The Tavern is well placed in the commercial area opposite a new Woolworths supermarket and several other notable commercial operators including Bakers Delight, Dalyellup Pharmacy, Red Dot, Domino’s Pizza, McDonald’s and Hungry Jacks.
The reasonably young venue (operations commenced in May 2022) adopts a family themed style, inclusive of a tavern and sports bar, TAB, dining and alfresco areas.
“We see huge potential for this venue which will garner long-term success as the suburb continues to mature,” says Mr Garland.
The sale of the leasehold of the Dalyellup Ale House also includes the potential opportunity to acquire the freehold, subject to negotiation.
According to Mr Garland, both Bunbury and Busselton are enjoying a significant rejuvenation as the preferred residential areas for families. Along with the added benefits of proximity to employment opportunities inclusive of resources and agribusiness companies based in the southwest and housing the growing number of FIFO workers flying to Northwest mine sites from the nearby Busselton airport, the area provides an affordable and enviable sea-change lifestyle which will only increase in the future, bringing commercial benefits to those businesses providing hospitality services on the ground.