In a sign that the property-backed, and hospitality-fronted asset class has maintained high levels of investor interest, HTL Property has the exclusive pleasure of offering for sale the Freehold Going Concern interest in the Devil’s Hollow Tavern and Brewery.
A hugely popular Western NSW destination, the boutique craft brewery and tavern also presents as a potential gaming brownfield opportunity in the prosperous regional centre of Dubbo.
Vendors for the asset are a syndicate of local business identities fronted by Melissa and Paul Knaggs; who are divesting the asset as it sits slightly outside of their core business of civil and industrial development.
The property itself is a large 2,260m2 land holding with 25 off-street car parks. Constructed upon the land is a modern tilt panel building with high ceilings and approximately 740m2 of internal floor space. Currently operating as an on-premise tavern specialising in craft beer and food, the additional Brewery operation comes fully equipped with state of the art beer brewing equipment; enjoying capacity to grow a significant off-premise retail liquor business.
“Dubbo is NSW’s fifth largest inland City, and is a thriving regional business and service hub” advised HTL Property Director, Blake Edwards.
“Dubbo separately promotes a thriving construction and manufacturing economy, and also welcomes a material 2,500,000 overnight visitors per year” added Edwards.
“The economic prosperity of the Dubbo region over the last 5 years has seen a strong increase in the demand for, and success of, high-quality food and beverage offerings such as Devil’s Hollow” Edwards concluded.
“Given the proximity to the large blue collar worker base of the Blue Ridge Business Park and the very high potency gaming venues within the Dubbo LGA (8 venues rank within the OLGR top 600), there exists the opportunity for an experienced operator to introduce gaming to the venue by acquiring or leasing Poker Machine Entitlements” offered HTL Property’s Xavier Plunkett.
“The Brewery enjoys the benefit and flexibility of a Full Hoteliers Licence, and also holds a valuable LIA for 20 Poker Machine Entitlements” Plunkett concluded.
“With sub-metro centres such as Dubbo the prosperous beneficiaries of increased footfall over the past two years, our considered view is that investors will broaden their investment gaze to include A grade properties such as Devil’s Hollow” advised HTL Property Managing Director, Andrew Jolliffe.
The Devil’s Hollow Tavern and Brewery is being offered for sale by Expression of Interest closing 12pm (Midday) Thursday, 1 September 2022 (unless sold prior).
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