Rower Peter Gillon offloads Mornington Best Western
Former Olympic rower-turned-property developer Peter Gillon has sold the Best Western hotel on Victoria’s Mornington Peninsula for about $9 million to local owner-operators.
The four-star, 53-room Best Western Plus Brooklands, at 99 Tanti Avenue, in Mornington, is a popular wedding and function venue and includes four function rooms, a heated indoor pool and gymnasium on a 9000-square-metre site.
Mr Gillon, who competed at the 1960 Rome and the 1964 Tokyo Olympics, founded the Gillon Group in 1960 and, according to its website, has undertaken $1 billion-worth of projects across the residential, retail and commercial sectors.
The hotel deal was negotiated by Scott Callow of CBRE who said the sale highlighted the strong continued demand for investment opportunities on the Mornington Peninsula.
Mr Callow said the buyers were experienced accommodation operators and investors from Melbourne.
“It was only the second time the asset had been available to purchase, which is why we saw significant interest from a mix of owner-operators, investors, business buyers and developers,” Mr Callow said.
“Mornington is continuing to grow as a popular tourist destination, due to the array of beaches, restaurants, wineries and its close proximity to Melbourne’s CBD. The premium hotel is a short walk to the popular Main Street shopping and restaurant precinct and within walking distance to both Mothers and Mills beaches, making it a prime investment opportunity.”
