17 Feb 2025
Words Ben Loughran Bendigo Advertiser

Two Quest hotels in Bendigo hit the market with massive $6.6m price tag

Two of Bendigo’s premier accommodation locations are on the market for a potential joint deal with millions of dollars.

The leasehold for the Quest hotels — one in central Bendigo and one in Golden Square — are up for grabs with the properties’ estimated joint value sitting at $6.6 million.

The Golden Square Quest at the corner of High Street and Mimosa Street boasts a 38-key property and averaged an occupancy rate of 81 per cent in the last financial year.

The central Bendigo location includes 60 rooms and averaged an occupancy rate of 79 per cent.

The central location is also very close to some of Bendigo’s most popular eateries, the tennis complex and the iconic Lake Weeroona.

The average daily rate — which is the average rental income for an occupied room per day — for both Quest sites is more than $200.

Both hotels are well known for hosting corporate functions with each boasting a conference room.

A total of 98 rooms under one owner

If one buyer was to snatch up both hotels, this would total 98 rooms and an estimated profit of $1.5 million per year.

While the properties are being sold separately, the vendor is open to the sale of both businesses to the one party.

Both hotels include pools.

Property inspections are only available by appointment.

For information, contact Hugh Thomas at ResortBrokers.