CBRE Hotels has reinvigorated a sale campaign for Victoria’s CountryPlace Conference and Function Centre on behalf of Farman Investments.
After the initial sale was put on hold during last year’s COVID-19 lockdown, the owners have relaunched the listing with a view to retiring after running the business for over 30 years.
Surrounded by natural gardens, the Mount Dandenong property is one of the most historic sites in the Dandenong Ranges, with pioneers Isaac Jeeves and his wife Ann building the area’s first house on the site in 1860.
It now features a multi award winning business, which has substantial goodwill and a strong reputation in the wedding, event, and conference sector, given its location within a one-hour drive from the Melbourne CBD offering stunning views down the Yarra Valley.
It is also the only venue to be a five-time winner of the Victorian Tourism Award and holds a prestigious place in the Victorian Tourism Hall of Fame.
CBRE Hotels’ Senior Director Scott Callow noted; “The long-established CountryPlace business is incredibly well balanced and benefits from loyal clientele, attracting a broad mix of conference, weddings, universities and education programs, wellness, religious and hobby groups.”
“These types of properties are rarely offered to the market, with few developments like this having been undertaken in recent times.”
The property offers an incoming purchaser 62 accommodation rooms, each with ensuites, within a three-wing main complex, two-bedroom cottage accommodation, a restaurant for up to 100 guests with a full commercial kitchen, in addition to a gym, outdoor pool and barbeque facilities.
The owners have also established a small museum of photographs and artefacts celebrating the early settlers at CountryPlace.
Mr Callow noted that the business benefited substantially by having the conferencing and accommodation facility under a single roof, with buyers also likely to focus on the fact that the venue was situated on a 5.078 hectare site with significant areas of undeveloped land, providing future development opportunities.
Expressions of Interest close March 18, 2021.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
