A Victorian High Country ski resort is on the market for the first time in almost four decades.
The Bono family has put the Alzburg Resort at 39 Malcolm Street, Mansfield on the block, the first time in 38 years it has been up for sale.
The family, which is exiting the sector, expects it to sell for arond $11 million.
The property includes a 14,280sq m hotel and an on-site ski hire operation with modern ski and snow equipment.
It sits on a 1.428ha site with three street frontages and has 44 rooms including one and two-bedroom self-contained apartments, penthouse apartments and hotel spa rooms.
Other amenities include function rooms, a swimming pool, two tennis courts and a manager’s apartment.
The main red-brick building was originally a convent and a school.
An expression of interest campaign handled by CBRE Hotel’s Scott Callow is due to end on March 4, 2024.
Callow said that there was a boom in regional tourism under way.
“Regional tourism has experienced significant growth during recent years, with the combination of short breaks and stay-at-home holidays,” Callow said.
“Being 200km from the Melbourne CBD makes Mansfield an ideal location for tourism and local conferences.”
Callow expects there to be considerable interest in the property as existing assets are preferred by investors in this sector.
“The high cost of construction of this asset type makes buying existing assets with established businesses attractive,” Callow said.
“We are expecting interest from a mix of private investor operations and smaller investment funds seeking stronger returns than generated from CBD and metropolitan assets.”
Victoria’s snowfields and high country region has attracted interest from investors and developers as many businesses grapple with adding accommodation for workers and additional tourism accommodation to meet the demand.
