Continental Hotel: Julian Gerner sets new start date for Sorrento landmark redevelopment
Hotelier Julian Gerner’s bid to flip one of the Mornington Peninsula’s best known pubs has had many twists and turns. Now he reckons he’s almost ready to push ahead with the ambitious project. But locals aren’t so sure.
South East
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Work on Sorrento’s trouble-plagued Continental Hotel is expected to resume in April, a month after the $100 million redevelopment was meant to be finished and open for business.
The landmark hotel’s owner Julian Gerner said yesterday he “was close” to securing finance for the project.
“It is imminent, but there are number of complexities that we are working through,” he said.
The news did not appease historians or frustrated locals.
Nepean Conservation Group president Ursula De Jong feared the building’s condition had deteriorated since work stalled at the Ocean Beach Rd site last year.
She said it appeared there were new cracks in the heritage-listed building and possible water damage from recent storms.
“The site is being inspected regularly by Heritage Victoria and by the Nepean Conservation Group,” Ms De Jong said.
“Heritage Victoria has told us that Mr Gerner is complying with all requests.
“But it’s hard to determine what new damage there may be.”
Todd Linton Gawn of the Sorrento Watchers group doubted the project’s viability.
“(It’s) too big. No return on any investment is ever likely,” Mr Gawn said,
Mark Ewart, who is also a member of the private Facebook group, said the project should never have been approved by the shire in its entirety.
“Now we are stuck with an eyesore and a derelict construction site in the centre of the township, indefinitely,” he said.
Mr Gerner bought the venue for a speculated $15 million in 2015, purchased a neighbouring parcel of land and obtained heritage and planning approvals for a $22 million makeover.
He put it on the market in November 2017 after realising he couldn’t fund the redevelopment. But instead of selling the site Mr Gerner entered into a joint venture with developer Stellar to restore, renovate and refurbish the scenic venue.
Work began in 2018 on that bold plan, which included a new bar and bistro, fine dining and function area all slated to open in September 2019.
The second stage featuring a wellness centre, 60 hotel rooms along with a lobby, cafe, swimming pool and whisky bar was scheduled to open around March, 2020.
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However, the project stalled last April when Stellar collapsed and Mr Gerner had to find a new backer.
The sale of the site to LBA Capital fell through in September 2019.
The following month Mr Gerner announced that he would retain ownership of the site and expected construction would recommence after Australia Day, 2020.
Mornington Peninsula Shire Mayor Sam Hearn said the “on again, off again nature” of the project had been a “rollercoaster” and he was hopeful the project would get off the ground this time.
Ms De Jong will present a report updating the community about the Continental Hotel project at the Nepean Conservation Group’s AGM this Saturday, 3pm at Point Nepean National Park, Badcoe Hall.