PHOTO: The St Andrews Beach Brewery. HUNTING FOR GEORGE
Formerly inhabited by horse racing legends such as Makybe Diva and Mummify, the St Andrews Beach Brewery, situated on Melbourne‘s Mornington Peninsula, is now on the market.
Under the leadership of developer Andrew Purchase and with notable shareholders including Australian cricketer David Warner and Sydney jockey Tommy Berry, this expansive 92-acre property, encompassing a venue, brewery, and a sizable orchard, is poised to attract a diverse array of potential buyers. While the price remains undisclosed, given the substantial acreage and revenue generated from hospitality, an estimated value of around $20 million is anticipated.
The 92-acre site includes a venue, brewery and large-scale orchard.
In the mid-2000s, the estate was under the ownership of the renowned Freedman horse racing family, accommodating up to 80 thoroughbred horses alongside its grassed racetrack before changing hands in 2015.
During the Freedmans’ tenure, the stables housed an impressive roster of 100 group-one winners, including multiple champions like Makybe Diva, Mummify, and Alinghi, who claimed victory in prestigious races such as the Melbourne Cup, Caulfield Cup, Cox Plate, and Golden Slipper.
Purchase acquired the property and transformed the stables into a venue capable of hosting around 180 guests. Additionally, he repurposed the 1200-meter racetrack into an orchard producing a variety of ciders for the on-site brewery.
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Situated approximately an hour’s drive from Melbourne’s CBD, the property enjoys proximity to attractions such as the Moonah Links Golf Course, Gunnamatta Surf Beach, and Peninsula Hot Springs.
JLL Hotels & Hospitality, represented by Will Connolly, Peter Harper, and Lachlan Persley, is advising on the freehold sale, which also presents substantial coastal land-banking opportunities. Connolly notes that interest has been expressed by a diverse range of potential buyers, from high-net-worth individuals and private syndicates to national hospitality operators and beverage brands interested in expanding the brewery’s product lines, including the Barrel Aged Beer range.
The property additionally includes 100 megaliters of annual groundwater rights and features a substantial solar panel farm.
Meanwhile, the former ASX-listed Redcape hotel group, now operating under the MA Financial banner, has recently completed the sale of two additional pubs, with a combined value of approximately $45 million, as part of their ongoing strategy to divest non-core assets.
SOURCE: SMH