The Railway Hotel in Elaine, Victoria listed

The retirement of the longtime owners of Elaine’s The Railway Hotel has prompted its listing.

It has an asking price of $749,000

Dean Wilson of Stockade & Leggo Bannockburn is marketing the property.

Wilson says the pub benefits from being on the main road between Ballarat and Geelong.

“There’s no footy club here, so the pub’s the place to meet," he told The Herald Sun.

Situated at 5280 Midland Highway the hotel sits on a 1.23 acre plot.

With 5,000 square metres of internal space has a bar and meal trade, multiple accommodation and is also set up for functions.

Fully featured with main bar, bistro, mens and ladies W.C's, appointed kitchen, store room/cool room, warming wood fires, large undercover beer garden and five bedrooms with two bathrooms and two separate toilets.

Located between Buninyong and Meredith on Midland Highway, it is only 25 minutes to Ballarat and 40 minutes to Geelong.

Last sold in 2006, the property traded for $250,000.