Historic Yackandandah pub with loyal following hits the market
The Star Hotel in Yackandandah, a landmark regional Victorian pub known affectionately by locals as the “Top Pub” has hit the market, offering buyers the chance to take the reins of a thriving hospitality business with more than 160 years of history behind it.
Like many pubs of its era, the Star Hotel has accumulated its share of colourful stories over the decades. Local folklore includes the tale of a resident who famously raised a sheep as a petg, occasionally bringing it into the pub, where it would reportedly drink beer from a dog bowl before being driven home. More recently, it has hosted a rotating cast of travelling musicians.
Now listed for sale through First National Real Estate Bonnici & Associates after a decade of ownership by the current publican, it presents what agents describe as a rare opportunity to secure a long-standing venue that serves as both a local institution and a drawcard for travellers passing through the popular north-east Victorian township, says selling agent Christian Clark.
Dating back to 1860, the historic building spans 1032 square metres in the heart of Yackandandah’s main street. It features indoor and outdoor bar areas, a separate dining room, and a popular cafe currently operating from the hotel’s laneway, alongside an outdoor stage.
Clark says the offering will appeal to a broad range of prospective purchasers, including owner-operators, investors and lifestyle buyers seeking an established business supported by strong community patronage and the region’s growing tourism appeal.
“The interest has been stronger than anticipated, with enquiry coming from both local buyers and interstate investors,” he says.
Set in a town known for its community-led events calendar, the venue offers incoming operators the opportunity to step into an established business while retaining scope to expand or reposition over time.
“There is plenty of space to settle into an already thriving business, so the investment opportunity will grow as you further develop, if you choose to,” Clark says.
“This could very well appeal to either a local family or an interstate investor – someone who values not only a thriving and unique community spirit but also has a keen business sense.”
The Star Hotel is being offered to market as a leasehold or freehold going concern for $3 million.
