101 Commercial RoadKoroit VIC 3282
Property Details for 101 Commercial Rd, Koroit
Last Listing description (November 2021)
Phone enquiries - please quote property ID 19780.
Mickey Bourkes Koroit Hotel Est 1853 is a two-storey iconic hotel situated in the Irish village of Koroit which is located between Warrmanbool and Port Fairy, just off the Great Ocean Road and 3 hours from Melbourne.
The Hotel is the hub of the village boasting a strong local trade and meeting place for the community and popular tourist destination. Open 7 days its well established kitchen and restaurant are open for lunch and dinner.
The busy bar is always welcoming and also has a TAB area. There are 10 Rooms upstairs for accommodation with an opportunity waiting to capitalise on the increase of occupancy. A managers residence is also located upstairs.
* Open 7 Days
* Restaurant open Lunch & Dinner
* TAB
* Busy Bar trade
* 10 Rooms for Accommodation
* Strong local trade
* Tourist destination
* Hub of Koroit Irish Village
* Well supported by the community and tourists
The building is set on a large block of 1564m2 and is situated on the corner of High and Commercial Road (main road of the town). This is an excellent opportunity for those wanting a great lifestyle location and business. The pub is the pinnacle of the town with a fabulous atmosphere and presence. Selling freehold on a walk in walk out basis.
HUGE POTENTIAL TO IMPROVE:
* There is some development opportunity to place more accommodation at the rear (subject to council approved).
* Plenty of opportunity to expand the use Air BNB or booking.com sites.
ABOUT KOROIT
Koroit is situated within 10 minutes of well known Port Fair and Warrmanbool.
Koroit's claim as the Irish heartland of Australia is not made lightly. Koroit's current population of about 1500-2000 people is still dominated by families of Irish decent with Irish names common throughout the township.
The town, which is located at the foot of the dormant Tower Hill volcano 10 minutes either side of Warrnambool and Port Fairy, was first settled in 1857. The rich volcanic farmland of the area drew Irish potato farmers to Koroit who had fled the famine and couldn't believe their luck to find a piece of Ireland in their new country.
The Koroit township has close neighbours in the farming hamlets of Crossley and Killarney whose back lanes and green fields are as Irish as anything the Emerald Isle can offer. Potatoes, carrots and dairy cows still grow under and on top of the rich soil around Koroit and there is even a Blarney Stone at Killarney visitors can kiss. Koroit is located three hours from Melbourne and 10 minutes from both Warrnambool and Port Fairy.
PLEASE ENQUIRE VIA EMAIL TO EITHER ARRANGE TO INSPECT OR FIND OUT MORE.
Property History for 101 Commercial Rd, Koroit, VIC 3282
- 20 Sep 2022Sold for $1,600,000
- 01 Sep 2019Listed for Sale $2,200,000
- 04 Aug 2019Listed for Sale $2,200,000
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0About Koroit 3282
The size of Koroit is approximately 42.0 square kilometres. There are 2 parks, covering nearly 0.6% of the total area. The population of Koroit in 2016 was 2055 people. By 2021 the population was 2184 showing a population growth of 6.3% in the area during that time. The predominant age group in Koroit is 60-69 years. Households in Koroit are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Koroit work in a professional occupation.In 2021, 79.40% of the homes in Koroit were owner-occupied compared with 77.90% in 2016.
Koroit has 1,313 properties. Over the last 5 years, Houses in Koroit have seen a 27.52% increase in median value, while Units have seen a 9.23% increase. As at 31 July 2026:
- The median value for Houses in Koroit is $685,194 while the median value for Units is $399,164.
- Houses have a median rent of $620.
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