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Summary
Sinosmart Business Brokering announces the sale of a historic 100-year-old Blue Mountain hotel. This freehold property boasts a bar, gaming room, accommodation, and substantial land, presenting a lucr
Location Details
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About the Business
Sinosmart Business Brokering is pleased to announce the upcoming sale process for 100-year-old historic hotel in Blue Mountain. Together with HTL Property's Blake Edwards and Xavier Plunkett, we are managing the sale on behalf of the vendor.
The asset is a freehold going concern hotel comprising a bar, bistro, gaming room with 9 GMEs, beer garden, function space, detached bottle shop and 19 accommodation rooms of which 8 are en-suited. Positioned on an enormous 4,074㎡ block, the site enjoys excellent ingress for patrons and ample off-street car parking.
With an annual Revenue around 2.9 million, the value proposition regarding this asset is simple, over an acre of land with high exposure, spacious trading footprint, a late licence and one of the least concentrated suburbs in the state on a GMEs per capita basis. There exists latent demand all around, just waiting to be capitalised on by a prudent operator.
Licenced until 12am Monday to Saturday midnight, the surburb is a Band 1 (Green) SA2, which makes the purchase of additional GMEs possible, subject to approval from Liquor and Gaming.
Purchased by the current owner in 2018, our client has spent over 1million to make extensive refurbishments to the accommodation and the building during her period of ownership, which significantly promote the conditions of the hotel.
The owner operates the venue remotely from her Sydney headquarters. The hotel is under management by a manager on site.
There is 1 GME for every 94* residents across NSW, but only 1 GME for every 714* residents in the Surburb SA2. We believe this low per capita gaming machine ratio represents latent gaming upside that can be unlocked with improvements to the gaming offering at the pub.
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