Warrandyte wedding venue with potential to unlock boutique hotel for sale
With Yarra Valley weddings continuing to attract couples from across Victoria and beyond, investors now have the chance to acquire an established hospitality and events venue within the gateway to the region, complete with approval for a future 40-room hotel.
Riverlea Estate, located in Warrandyte, has hit the market as a walk-in, walk-out offering that includes the freehold, hospitality business, infrastructure, plant and equipment and council-approved plans for a boutique accommodation expansion.
The property has been purpose-built over the past five years by owners Carl and Greg Bell, transforming what was once a residential holding into a multifaceted hospitality destination, best known for weddings.
A multi-tiered hospitality asset in a highly protected zone
Set across 5.94 hectares, including approximately three acres of operational vineyard plantings, the property occupies a Rural Conservation Zone site.
The estate is anchored by the 1912 Restaurant, which accommodates approximately 100 diners indoors and a further 50 guests on its balcony, alongside the Cellar Door and La Strada cafe, which provides seating for around 100 patrons inside and 50 al fresco. Event facilities include the Melva Room, with a capacity of approximately 350 guests, and the Blossom Bar, an intimate pre-function and private-event space accommodating around 80 guests.
Supporting infrastructure includes a commercial kitchen, cool room, loading bay, multiple operational outbuildings and storage facilities, approximately 220 on-site car spaces, and existing liquor licensing across the property boundaries. The venue also benefits from an established pipeline of forward wedding and event bookings and multiple landscaped outdoor event spaces.
Sustained event revenue and forward wedding pipelines
According to Chris O’Farrell of EXP Australia, the property is a top investment as one of the more popular event sites within the region.
“The function business is very successful and profitable,” O’Farrell said. “Certainly weddings would be the majority, but they also do a lot of corporate functions and conferences.”
The estate combines the contemporary hospitality offering with the original residence, which has been reconfigured into two self-contained apartments. A bridal suite within the venue allows bridal parties to stay on-site and ready themselves before the nuptials, while the timber-clad bar and lounge area is a go-to for the groomsmen.
Approved hotel expansion targets regional accommodation shortfall
However, the approved hotel development is expected to generate the greatest interest among buyers, with Manningham Council approving a 40-room hotel. Detailed plans and completed drawings are available to prospective purchasers as part of the information memorandum.
“The offering is for the freehold, the infrastructure, the plant and equipment, the business, the permit – it’s walk-in, walk-out, take the lot. Plus, the ability to construct this hotel, which will make it explode,” O’Farrell said.
“The Yarra Valley is a tourist destination, and this 40-room hotel would fit really, really well.”
The proposed development would address a notable gap in the local accommodation market, with O’Farrell noting that there are currently few options for visitors seeking to stay in the immediate area.
“There is very limited accommodation around there,” he said. “People have got to go and find somewhere else to stay in a motel or wherever they can.”
The combination of an established hospitality operation and future development upside is already attracting attention from a broad pool of buyers, with strong enquiries since the property officially launched to market just over two weeks ago.
“We’ve had interest from hotel operators, investors and owner-operators, both interstate and local Victorian buyers.”
The property is being offered for sale with a price on application.
