Long-time publicans list popular Geelong West hotel for sale
The Telegraph Hotel, at 2-4 Pakington St, Geelong West, is selling via expressions of interest.
Prominent Geelong West pub the Telegraph Hotel is the latest hospitality venue to hit the market as the long-term owners look to retire from the business.
The freehold for the popular venue at the corner of Pakington and Church streets is being offered for sale with vacant possession, providing a walk-up start for a new operator to take over.
Owners Sam and Rhonda Longo have extensively renovated the Art Deco hotel over the past 20 years, building its reputation for quality food and wine.
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Its rooftop deck was crowned Victoria’s best in 2021.
Mrs Longo said after 35 years in hospitality the couple was considering retiring but reassured patrons the popular hotel remained opened.
“We have got a great team and staff and it’s business as usual,” she said.
She said the pub continued to attract a loyal local customer base, as well as visitors, including passengers from the nearby Spirit of Tasmania.
“We are very positive about Geelong and it’s obviously one of the fastest places for growth in the country so it’s well placed for lots of economic growth,” she said.
Vince Carbone Property agent Joseph Carbone is handling the expressions of interest campaign for the 1324sq m property at 2-4 Pakington St, Geelong West.
Offers close on June 26, with the price expected to be in the high $4m to $5m range.
Owners Sam and Rhonda Longo have renovated the hotel from the ground up.
They added the award-winning rooftop deck several years ago.
“They have been running it for some time and they had a few direct approaches for the business and, given the stage of their lives, they just thought they would run an official process and that is what we’re doing,” Mr Carbone said.
“It has long-term patronage, good steady turnover and we are selling it on a walk-in, walk-out basis so everything stays other than stock.
“It’s an exceptional opportunity for an existing operator to take over the business while land-banking the future development potential of the site (subject to council approval).”
The two-storey hotel includes multiple bars, function spaces and indoor and outdoor dining areas.
The site is zoned Commercial 2.
There’s multiple dining areas and bars at the two-storey hotel, which offers 1045sq m of floor space.
Mr Carbone said the buyer was likely to be an operator who would continue the pub in its current form.
But there has also been early interest from developers in the prominent corner site at the far end of one of Geelong’s most prized retail and hospitality strips.
Currently zoned Commercial 2, the site beside the Telegraph Bridge is earmarked for commercial, retail and residential developments up to 10 storeys in height under the Pakington North Urban Design Framework adopted by the City of Greater Geelong last year.
