70-72 Mangan StreetTongala VIC 3621
Property Details for 70-72 Mangan St, Tongala
Last Listing description (August 2022)
EXCLUSIVE TO MHB
So Much Potential Here!
Offering a fantastic opportunity to enter the hospitality industry or even for an experienced operator looking for the perfect mix of lifestyle and business amongst a great community.
The Tongala Hotel is the heart and hub of the local community, serving as the towns meeting place since the late 1890's.
Prominently positioned on a large corner allotment on approximately 2,884m2 of land, the property is in excellent condition and features a public bar, TAB, bistro, central commercial kitchen, drive thru bottle shop, 9 separate motel apartments and a spacious 4 bedroom manager's residence.
This charming and historic hotel was established in 1887 and underwent extensive rejuvenation in 1913 when the weatherboard hotel was replaced with the brick building that stands today.
This is a fantastic opportunity to grow the business further within this strong community.
Key Features:
* Strong community support and patronage
* Located in a prosperous agricultural region
* Only Hotel in town
* TAB facilities
* 9 x Motel accommodation rooms
* Situated upon approx. 2,808m2 of Township Zoned Land
* 4 bedroom family residence
* Excellent opportunity for development
Leasehold also available.
Contact Ian McDonald at MHB direct on 0408 217 734 to discuss this excellent opportunity!
Property History for 70-72 Mangan St, Tongala, VIC 3621
- 24 May 2022Sold for $850,000
- 20 Dec 2021Listed for Sale Freehold with Vacant Possession - $950,000
- 15 Apr 2014Listed for Sale Not Disclosed
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About Tongala 3621
The size of Tongala is approximately 112.1 square kilometres. The population of Tongala in 2011 was 1,869 people. By 2016 the population was 1,935 showing a population growth of 3.5% in the area during that time. The predominant age group in Tongala is 0-9 years. Households in Tongala are primarily couples with children and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Tongala work in a labourer occupation. In 2011, 74.6% of the homes in Tongala were owner-occupied compared with 73.7% in 2016.
Tongala has 1,022 properties. Over the last 5 years, Houses in Tongala have seen a 80.21% increase in median value, while Units have seen a 78.80% increase. As at 31 October 2024:
- The median value for Houses in Tongala is $401,396 while the median value for Units is $329,759.
- Houses have a median rent of $250.
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