Chance to own the Sorrento Brewhouse

There is no shortage of operators keen to land a craft beer joint in a top coastal spot.

The recently listed Sorrento Brewhouse along a coveted Sorrento strip has price hopes of $600,000-$700,000 plus.

That’s a fraction of what commercial properties cost along popular Ocean Beach Rd. A sale early this year saw 54-56 Ocean Beach Rd on 574sq m fetch $4.07 million.

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But the asking price for the Sorrento Brewhouse is just for the business, not the property, which is owned by Mildura-based craft beer producer Broo Ltd.

The place can get busy in warmer months.

The venue has operated for just a year and netted revenue of over $260,000 in 12 days over the last Christmas-New Year period, according to the listing.

It is on a five-year lease from 2017 with an annual $80,000 rental.

“Interest has been mainly from owner-operators,” CBRE Hotels director Mathew George says.

The 154-164 Ocean Beach Rd site on 1486sqm has a sought-after position with its 60m depth making it one of the largest retail sites on the main street.

The packed-out interiors.

“Despite the tyranny of distance between Mildura and Sorrento, Broo has made some solid inroads in delivering a high-quality coastal venue,” Mr George said.

He noted this was an opportunity to create a business and lifestyle and would suit a variety of operators.

The property has bars and a kitchen at the front, a separate kiosk, extensive outdoor areas and decking and a recently added high-spec bar and cool room.

It offers multiple directions for a new operator, ranging from craft beer and woodfire pizza to food trucks and coffee offerings with all-day dining and cocktail evenings, George adds.

This article from Leader Newspapers originally appeared as “Sorrento Brewhouse: Mildura’s Broo looking to offload coastal venue”.