Community
21 November, 2024
Commercial to hit the market
PUBLICAN Les Cameron is exploring options to sell his beloved Commercial Hotel.
Mr Cameron, along with his partner Rosemary Knight, this week announced their decision to put the Commercial Hotel on the market.
Mr Cameron has owned the Commercial since 2018, and the pair have worked tirelessly not only to run a successful business, but launch a wide range of creative endeavours aimed at supporting the arts in Terang.
The pair felt the time was right to make a change as other priorities command more attention than can be given while undertaking day-to-day management and operation of the business.
“The highest priority for me is my family,” Ms Knight said.
“Les has always supported me, it’s massive, and always has been.
“Things have changed with my family situation so we’re foreseeing a fairly uncertain future which requires more of our attention, and I don’t know how long that will be.”
Mr Cameron said he felt it was time for a changing of the guard, with a belief a younger owner could help breathe new life in to the century-old hotel which has become an icon of Terang’s main street.
“In simple terms, the chore of running a successful business, which I feel we certainly are, is almost too challenging now,” he said.
“I think it’s a challenge more suitable for a younger person.”
Mr Cameron said there has already been an early expression of interest from a local family who he believes will be supportive of his vision to use the Commercial as a conduit for both heightening an artistic presence within Terang, and supporting visiting creatives.
The appeal of new ownership which would continue the legacy of what has been achieved within the walls of the Commercial is one Mr Cameron finds captivating.
He has long shirked the standard pursuit of capitalistic success in favour of what he’s described as a “cultural renaissance of Terang,” with a number of programs supporting visual and performing arts and initiatives to enhance artistic expression through all mediums running from the hotel each month.
Mr Cameron openly acknowledges six-figures in annual potential left unutilised as the Commercial Hotel, under his management, exists not as a means to a financial end, but a safe haven for creativity which dollars cannot measure.
Over the years Mr Cameron has launched an untold number of initiatives such as the Artist in Residence program, which has seen him opening the doors to artists seeking a creative refuge at no cost.
For each initiative which has been publicised, there’s been far more flying under the radar; there are no fewer than 15 community groups using the space for free of charge on a consistent basis.
“I love the fact we’ve had weddings, birthday parties and special events, and love all the people who come through,” Mr Cameron said.
“We do music tuition, have choirs, host the cemetery trust and the Lions Club, or hosting the TAG artists gallery in one of the shopfronts.
“All of those are things I feel are important to sustain; it’s one thing we’re worried about.
“You find yourself thinking this is what has been achieved, and this is what could be lost.”
Mr Cameron said the Commercial Hotel has remained financially viable in part due to a steady flow of regional workers.
“The money which has come to support everything else has come from accommodation,” he said.
“That accommodation has been very good, which is probably worth around $300,000 each year and could be much higher.
“The state acknowledges the development of regional Victoria is dependent on the capacity to house regional workers.
“I got the hotel for $450,000, which is nothing and everyone from the city knows what $450,000 might buy you, so the good news is it didn’t require me to have a mortgage.
“I didn’t have to earn much money out of it other than the cost of electricity, water, etc, so it’s a very satisfactory environment which I would be happy to keep – but I also feel other people could be doing better.”
Mr Cameron said he is open to the different models which would see the hotel change hands because of the economic pressures facing younger people – as Ms Knight says, “If you can’t afford a house, how can you afford a hotel?”
“We want to keep the community feel, and we’re happy to still be involved – we’re not stopping anything,” he said.
“If we can support someone in some way, getting creative in how they ended up owning it or even just leasing it; we’re open to finding a way for someone to come across and take over the maintenance or running.
“I’d love to think we consider the place to be important to the future of Terang because of the fact it does provide accommodation.”
Long-time publican Des Bouchier, who has the licence and rental opportunity to operate the Commercial Hotel’s bar, is open to offers with assisting or working with new owners to support them in the transition.
Ms Knight and Mr Cameron are also willing to lend their support, and have no plans of leaving town any time soon.
The pair hope to continue on with their involvement in projects such as the Terang Theatre Troupe, but it appears likely it will be done so with some else guiding the Commercial Hotel.