Arthurs Seat: Iconic Arthurs Hotel opposite Eagle Skylift for sale
The iconic Arthurs Hotel atop Arthurs Seat “with the most incredible views of anywhere along the entire Mornington Peninsula” has hit the market.
Operating for eight years until 12 months ago as Arthurs Hotel, the near 100-year-old pub is awaiting new life with bountiful opportunities for prospective buyers.
Roger McMillan Dromana’s eponymous director said the 7254sq m site was split across five titles and it was still to be decided whether they would be auctioned separately or together.
“Some people are interested in just the hotel, which is on the biggest parcel of 3270sq m, some people are interested in just the four vacant lots,” Mr McMillan said.
“They’re residential — you could build houses on them.”
There’s potential for cashed-up buyers to create dream homes with some of the state’s best views should they snap up the vacant blocks, and some interested would do just that.
But the entire package if sold as one was expected to attract more than $10m, with local, interstate and international hospitality players attracted to the unique offering.
“It’s the only venue on top of the mountain,” Mr McMillan said.
“It’s extremely iconic. It’s right opposite the Eagle Skylift. It was originally Garden of the Moon back in the 1930s, then later on it became the Mountain Peak Restaurant and the last eight years it’s been called the Arthurs Hotel with the same tenants for those eight years.”
Mr McMillan said the tenants had vacated just prior to COVID, and noted the venue had a 1am liquor licence for 430 patrons.
“Some people have expressed interest to keep it running as it is as a multi-function venue, other people have expressed interest in gutting the building and modernising it, and starting the business again, and other people are interested just from the land value because it has five separate titles and two street frontages and it’s just under two acres (0.8ha) in size with the most incredible views of anywhere along the entire Mornington Peninsula,” he said.
“It’s been pretty much the same for the past 20-30 years. There’s a restaurant, there’s a sports bar or wine bar, a beer garden, there’s a function room for weddings and there’s a hole in the wall takeaway, footpath trading and it has its own vineyard.”
The property, at 790 Arthurs Seat Road, Arthurs Seat, is for sale for the first time in 22 years and will be auctioned on June 16.