THEIR SHOUT: Landmark pub changes hands for $1.6 million

PORT Fairy's landmark Victoria Hotel was yesterday sold at auction to Warrnambool's Rodger Construction group for $1.6 million."We obviously see a great potential here," company spokesman Jason Rodger said outside the historic pub.Mr Rodger said the Victoria would be added to the company's existing hospitality interests, which includes the recently-developed Flying Horse Bar and Brewery in Warrnambool's east."It was an opportunity that was presenting itself," Mr Rodger said."We aim to run it as a going concern and our first aim is getting numbers back in the door."It's great that it's been bought by locals who can keep an eye on it."Mr Rodger said the company had a few ideas in mind, with a major goal to make the pub an affordable venue.Rodger Construction will take over the property with freehold vacant possession early next year. The hotel will continue to trade in the meantime.More than 150 people attended the sale which was conducted under instructions from Brooke Bird Receivers and Managers.Auctioneer Rodd Hedditch of selling agents T.J. Board and Sons opened the auction with a live bid of $1.2 million.Spirited competition from five interested parties - including several locals - took the hotel to its final selling price of $1.6 million.Agent Terry Board said insolvency firm Brooke Bird, which has taken over hotel management, was happy with the result."Everyone is happy, including the buyers who are happy they got it for the price," Mr Board said. "There was a lot of interest in the property."The Victoria, which dates back to 1874, is on a prominent site at the corner of Bank and James streets.The National Trust-listed site includes the double-storey hotel with a main bar, bistro, restaurant, function room, courtyard, four bedrooms, bathrooms and staff facilities on a 1535-square-metre block.The building was extensively renovated in 1999, when former owners Michael and Min Myers created an upmarket hotel and accommodation complex.Melbourne buyers Paul Scan and Paul Jens bought the pub for an undisclosed sum in 2005, after it was passed in at auction for $2.2 million earlier that year. Liquidators were called in two months ago after falling winter trade and fuel and food price hikes gave the hotel a financial battering.