This article is from the Australian Property Journal archive
THE Peppers Mineral Springs Hotel in Hepburn Springs has sold to a private local investor group.
The 4-star 40 room boutique Victorian hotel is located in the picturesque Daylesford and Macedon Ranges. 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.
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.
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.
“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,” Callow said.
Australian Property Journal
