191 Barker StreetCastlemaine VIC 3450
Property Details for 191 Barker St, Castlemaine
Last Listing description (January 2020)
CBRE Hotels is pleased to present the opportunity to acquire The Cumberland Hotel.
Key investment considerations includes;
- Underpinned by a highly profitable gaming room with 30 EGM's
- Brand new long lease (30 plus years) available at commencing rental of $380,000p.a
- Favourable licence conditions with trade between 7am and 1am
- Historically been run under management, significant upside for owner operators
- Ability to refurbish multiple rooms on 1st floor and create accommodation offering (STCA)
- Hotel business consists of bistro, front bar, sports bar, TAB facilities and beer garden
- Sole gaming venue in entire town, no competition, current population at 7,000 and growing
- Easily accessible to Melbourne via Calder Freeway and an hour to Melbourne Airport
- Castlemaine is undergoing a massive regeneration, with the added convenience of being located on main train line between Melbourne and Bendigo
Property History for 191 Barker St, Castlemaine, VIC 3450
- 22 Dec 2021Sold for $7,730,000
- 08 Nov 2021Listed for Sale Expressions of Interest
- 01 Oct 2019Listed for Sale Offers to Purchase
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0About Castlemaine 3450
The size of Castlemaine is approximately 20.2 square kilometres. There are 26 parks, covering nearly 22.3% of the total area. The population of Castlemaine in 2016 was 6757 people. By 2021 the population was 7506 showing a population growth of 11.1% in the area during that time. The predominant age group in Castlemaine is 60-69 years. Households in Castlemaine are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Castlemaine work in a professional occupation.In 2021, 73.40% of the homes in Castlemaine were owner-occupied compared with 71.00% in 2016.
Castlemaine has 4,827 properties. Over the last 5 years, Houses in Castlemaine have seen a 17.87% increase in median value, while Units have seen a 12.60% increase. As at 31 July 2026:
- The median value for Houses in Castlemaine is $750,459 while the median value for Units is $548,914.
- Houses have a median rent of $545 while Units have a median rent of $413.
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