A private local investor group has purchased the Peppers Mineral Springs Hotel in Hepburn Springs.
The 4-star, 40 room, boutique Victorian hotel is located in the picturesque Daylesford and Macedon Ranges - one of Victoria’s top hot spots located less than 75 minutes from Melbourne.
Built in the 1930’s, the hotel is a fusion of Spanish mission, Arts & Craft with classic art deco features, with the unique exterior having established it as an icon in the region.
The property includes the iconic heritage listed Villa Parma which is on a separate title. The public areas of the hotel have been refurbished by renowned Australian designer, the late Stuart Rattle, and there is also planning approvals for a new function centre, wellness retreat, 26 new hotel suites and an indoor pool.
CBRE’s Scott Callow sold the freehold property and business on behalf of the owners, Wayne Cross and Chris Malden, who have owned and developed the property since 2000.
Mr Callow said the property received over 50 enquiries, with multiple offers.
“The eventual purchaser was a local investor group that was attracted to the strong Peppers brand and the fact that the hotel is recognised as one of the premium accommodation and spa facilities in the region,” Mr Callow said.
“In addition the ability to further develop the property to cater for the ever growing demand in that region was a key investment attraction. The strength of the Melbourne hotel market is flowing onto outer areas, with the Daylesford/Hepburn area continuing to increase in popularity, especially at the higher end of the market.”
The property has won several industry accolades including best destination day spa resort, One Hat in Age Good Food Guide 2015 & Three Glass wine list in Gourmet Traveller 2015 regional hotel restaurant of the year and top 100 restaurants of Australia.
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