A BERWICK institution has been snapped up for $15 million.
The ALE Property Group announced last week it had bought the Berwick Inn and said it was pleased to add the local landmark to its portfolio.
The Sydney-based company is Australia’s largest freehold owner of hotels, owning 106 nationwide, valued at a total of $686 million.
Forty-two of these hotels are located in Victoria, including the Prince Mark in Doveton.
The Berwick Inn will now be leased to Australian Leisure and Hospitality Group Limited (ALH) until November 2008, as based on similar terms to the existing portfolio.
ALH is jointly owned by hotel operations group Bruandwo.
ALE managing director Andrew Wilkinson said The Berwick Inn was a great hotel and the company was pleased to purchase such a quality property.
The Berwick Inn was first established as a pub in 1857 and has been significantly extended.
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