ONE of Ballarat's most iconic pubs has been sold to a Ballarat-based developer.
The Miners Tavern at 118-122 Lydiard Street, one of a series of high-profile hotel pubs which have recently on the market in Ballarat's CBD, has been snapped up after more than eight months on the market.
Colliers International sales agent Andrew Lewis confirmed the sale, within "10 per cent" of the asking price of $3.1 million.
Mr Lewis said the local developer intended to develop the hospitality side of the business, possibly in a similar way to what has been seen at the nearby Provincial Hotel, with plans for a restaurant and possibly accommodation component.
"I believe the plans are for it to remain a hospitality venue, but probably not in the same way it has run previously," Mr Lewis said.
The pub closed its doors suddenly on February 22, 2019 and has sat vacant ever since.
The property is 2400sqm in size and sits over three levels. A late-night liquor licence remains in place at the venue.
The property was placed on the market in November last year and was one of a number of high profile recent properties in the CBD up for sale.
Craig's Royal Hotel sold for in excess of $12 million in March this year, while The Pub With Two Names at the corner of Doveton Street and Mair Street has also recently changed hands.
The Bluestone on Mair Street is another currently on the market with Mr Lewis confirming a conditional offer was being worked through on that property.
The Unicorn Hotel in Sturt Street is another that remains on the market with confirmed interest, but as yet, no sale has been finalised.
Mr Lewis said while the commercial market in both Ballarat and Geelong was going through a tough period due to the current restrictions, plenty of opportunities existed for savvy buyers wishing to purchase retail or commercial property within the city.
He said while retail was struggling in some quarters there had been strong interest in industrial sites, while commercial sites near and attached to the Delacombe Town Centre were also performing well.
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