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News release


The Vue Grand Hotel Queenscliff to be offered for sale

Melbourne, 9th March 2010 – The multi award winning Vue Grand Hotel in Queenscliff (freehold vacant possession) will be offered for sale later this month. The owners, Grand Investment Group Pty Ltd have retained Jones Lang LaSalle Hotels to formally market the offering.
The boutique hotel offers 32 guest rooms and suites, four food & beverage outlets and three conference rooms. Situated on a substantial 1,950sqm site, the Property also has VCAT and town planning approval to demolish an old managers residence and replace it  with the development of 13 additional suites, a six room day spa and further conference and bar facilities, all adjoining the existing hotel.
Located in the heart of Queenscliff, the Hotel is just 75 minutes from Melbourne and 20 minutes from Geelong.
“Being just a short drive from Melbourne, the Hotel enjoys strong week-long demand,” said Mr Mathew George, Senior Manager, Jones Lang LaSalle Hotels. He added, “The Hotel’s diverse and flexible range of accommodation and conferencing facilties attract the MICE (meetings, incentive, conference and exhibition) market midweek, while the leisure, weddings and function markets are the mainstay on weekends.” “Plus with the addition of the newly completed Queenscliff Marina project, the town is now starting to greatly benefit from the influx of visitors and luxury boat owners.”
“The Vue Grand is the largest accommodation hotel on the Bellarine Peninsula and given its extensive offering, it enjoys strong revenues across its rooms, food & beverage and conferencing & events departments. This diversity of income streams will appeal to a wide range of investors including boutique accommodation owners, publicans, passive investors and new entrants to the hospitality industry,” said Peter Harper, Vice President, Jones Lang LaSalle Hotels. He added, “ Alternatively, an astute investor may to explore the opportunity for alternate uses - possibly residential conversion (STCA) for a marquee property in the heart of booming Queensciff.”
The Hotel is being offered for sale by Expressions of Interest closing 14 April 2010.