The resort, which has been owned by Ray App-leton and his family for nearly two decades, will be the subject of an expressions of interest sale process.

Agents Colliers International has been appointed to sell the 12,033-square metre waterfront property at Lake Hume Village.

“After nearly 20 years of ownership, it is with some hesitation and great sadness that the Appleton family has decided it is now time to offer the Lake Hume Resort property for sale,” Mr Appleton said.

“As a family, we feel it is time to encourage the further growth of the business and facilitate the opportunity for investment from younger, more experienced operators.

“We believe there is great potential for a new owner to bring with them industry experience, networking and franchise opportunities, and long-term goals and vision to continue to grow the business into the future.

“It is time to hand over the keys.”

Mr Appleton said the resort would go onto the market with no changes to the day-to-day operation or current commitments to staff and guest bookings.

“I cannot emphasise strongly enough that it is business as usual at Lake Hume Resort,” he said.

The resort, near the weir wall, comprises a 3.5-star, 26-room motel and function centre.

Other facilities include swimming pool, tennis courts, basketball courts and mini golf.

There is also a three-bedroom manager’s residence, and 18 additional three-bedroom cottages and two villas operated under lease agreements.

Agent Guy Wells said he expected the property to generate strong interest.

“This is an outstanding opportunity and we expect it to attract interest from owner-operators and investors alike,” he said.

“It is the first time this property has been offered to market.

“This well-regarded property provides the incoming purchaser a lifestyle investment with multiple revenue streams with further potential to grow the existing business, including accommodation, letting rights and events such as conferences and weddings.

“The property is loc-ated at the gateway to the Murray River and at the foothills of the Victorian and NSW ski fields, on 12,033 square metres of irreplaceable freehold lakefront land.”

Expressions of interest for the resort close on October 16.