ALE Property Group list Berwick Inn Hotel
The publicly listed ALE Property Group (ALE) is seeking to sell the Berwick Inn Hotel.
It is leased to Australian Leisure & Hospitality Group (ALH), which is 75% owned by Woolworths and is the largest operator of pubs in the country.
It holds the lease until November 2028, with four further 10-year options to extend to 2068.
The two-storey venue is located on a prominent 4,166 square metre site and comprises a bar, bistro, beer garden and gaming facilities as well as a large 50 space on-grade carpark.
CBRE agents Daniel Dragicevich, Scott Callow and Justin Dowers have been appointed to sell the property via tender.
"Typically, hotels with the blue chip tenant covenant of ALH trade at between 100-150 basis points sharper than those with private tenants," Dragicevich said.
"ALH leased properties have actually been in very short supply in recent times, so a keenly fought sales campaign is expected."
The Melbourne pub listing marks the first property ALE has put to the since its 17 venue sell down in 2009-2010.
