The Central Hotel in Stroud has been listed for sale and Commercial Collective's Matt Kearney expects strong investor interest for the country town's only pub.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
He is marketing 52 Cowper Street through an expressions of interest campaign, closing July 1, in conjunction with Deane Moore, of Moore & Moore Real Estate. The Newcastle Herald understands expectations are $3 million or more.
The property is positioned on the busy Bucketts Way. It occupies a corner block of around 3730 square metres.
The property includes five poker machine entitlements with updated hardware, 12 modern accommodation rooms, full commercial kitchen and a separate on-site manager's residence. It generates a net income of $225,000 plus GST per annum.
"It's got a new 10-year lease that was put in place in May this year and it's a very successful business, evidenced by its long trading history," Mr Kearney said.
"It was built in the 1930s and has been always operating as a pub since then. It has a really big tourist trade from people using the Bucketts Way.
"There's not only a solid investment but also further scope to develop the property because it only uses up about half of the land it's on."
Island for sale
Commercial Collective's Adam Leacy is marketing a "unique" property in Forster. He has listed Big Island in Wallis Lake .
It is around 25.63 hectares of land and positioned around 90 metres from the mainland. It is zoned E2 Environmental Conservation and being sold through private treaty.
A price guide has not been disclosed.
For lease
Exposure on the corner of Maitland Road and Elizabeth Street in Mayfield provides the appeal for a property that is being offered for lease by Movable director Steven Dick. He said 137-139 Maitland Road benefitted from a $250,000 upgrade.
It has a floor area of around 334 square metres and eight car spaces and is being offered for lease for $85,000 per annum plus outgoings plus GST.
Industrial units
Jayson Robertson, of Colliers International, is marketing a range of industrial units for sale or lease at 793 Tomago Road, Tomago. There will be a service station anchored by Shell in the complex, which is being delivered by ATB Morton and due for completion in July.
"Two of the units are directly adjacent to the service station, so they could be utilised for food purpose," Mr Robertson said.
"The other eight are high bay, all concrete construction with great truck access and there is ample on-site parking."
Renee Valentine
Renee Valentine is a sports journalist with more than 20 years of experience in Newcastle. She is passionate about increasing the visibility of sportswomen in the media. Got a sports story, email Renee at r.valentine@newcastleherald.com.au
Renee Valentine is a sports journalist with more than 20 years of experience in Newcastle. She is passionate about increasing the visibility of sportswomen in the media. Got a sports story, email Renee at r.valentine@newcastleherald.com.au
