Coastal Waterfront Tavern & Accommodation Hotel For Sale

Following the two largest coastal pub sales of the year in the form of the Port Macquarie Hotel to Knox Corp and the Tacking Point Hotel to the Laundy-Flower consortium, HTL Property is delighted to exclusively offer to the market Harrigan’s Tavern and Harrington River Lodge, Harrington.

HTL Property’s Andrew Jolliffe and Xavier Plunkett are engaged to exclusively manage the sales process. The Vendors for the sale are Roche Group who have brought the property to market as it sits slightly outside of their core investment mandate.

Situated upon an enormous 18,247sqm* allotment with over 200m* of absolute river frontage, the asset comprises a large tavern with a public bar, designated TAB, bistro, commercial kitchen, gaming room with 14 PME’s and truly spectacular waterfront beer-garden. The separately titled accommodation offering comprises 21 well-appointed 4-star units, swimming pool, function room with capacity for over 100 guests and an ultra-luxury 3-bedroom owner’s residence.

“The Roche Family should be very proud of what they have delivered to the people of Harrington over the past 20 years, with the broadacre land development for over 1200 homes and residences; all the typical infrastructure and amenity, a beautiful golf course, and a wonderful hospitality and tourism venue that serves as a meeting place for local community and the thousands of tourists who visit the region annually.” commented HTL’s Property’s Xavier Plunkett.

“Increasingly we are seeing traditional publicans being drawn to more diversified income streams and assets with strong accommodation and bottle shop components, as well as latent development upside; and are becoming ever more attractive. The desirable $4,000,000 annual revenue mix at Harrigan’s is spread evenly across, bar, food, wagering, accommodation, and function trade; with further upside presented by the recently introduced 14 gaming entitlements.” continued Plunkett.

“We’ve seen an on-going and deliberate buyer appetite for waterfront hospitality assets down the Eastern Seaboard and consequently there has undoubtedly been an elevated level of capital flow to the NSW North Coast ” advised HTL Property Managing Director, Andrew Jolliffe.

We expect buyer profiles of established publicans, accommodation providers and high net worth investors will be particularly attracted to the coastal location in close proximity to Sydney and Newcastle.

A-grade coastal assets at this price are incredibly rare, and the most recent sales in the region topped $45 and $55 million dollars, with the sale of the Tacking Point Tavern in Port Macquarie and the Port Macquarie Hotel respectively.

The Harrigan’s Tavern and Harrington River Lodge is being exclusively sold by HTL Property via an Expression of Interest campaign concluding Wednesday 30 November, 2022 (if not sold prior).

End.