Doolan Hotels takes over the Toorak Hotel

Leisa Wheatland of Wheatland Hotels has sold the Toorak Hotel business to Doolan Hotels, a family group operating several bars in St Kilda and Mr McCracken at Essendon Fields. 

Formerly the Bush Inn, the 650sqm Toorak Hotel is located at 505 Malvern Road within Hawksburn Village.

With a weekly revenue of $50,000-$55,000, the hotel business was marketed for circa $1.5 million. 

The hotel has capacity for 400 and offers a public bar and a family-friendly dining room, the rear section of the hotel is in its original condition with the potential for a rooftop extension.

CBRE Hotel’s Mathew George brokered the deal on behalf of Wheatland Hotels and said there was great scope for the new and energetic owner-operators to renovate and capture the growing crowds and renewed enthusiasm around grand old pubs getting a quality makeover. 

“We are seeing strong levels of enquiries and motivation from buyers in assets that have plenty of upside in strategic locations. The targeted campaign yielded over 50 enquiries resulting in three shortlisted parties,” Mr George said.