Sapphire City Gem for Sale by HTL Property

HTL Property agents Xavier Plunkett and Blake Edwards are delighted to exclusively offer the market the Freehold Going Concern Interest in the Imperial Hotel, Inverell.

The Imperial Hotel offering includes a public bar, bistro, commercial kitchen, 23 pub rooms, function space and gaming room with 10 highly valuable, Band 3 gaming entitlements.

The Hotel occupies a large brick building set upon a 2,063sqm* strategically located CBD corner allotment in the very epicentre of Inverell’s commercial core; and with over 46m of street frontage across both Byron and Otho Streets.

“This stately asset presents a clear upside play for an experienced operator, presenting all of the most desirable attributes sought by the most successful publicans; including the enormous centrally located land holdings, a main street location, high volume pedestrian traffic and the latest licence in Town,” offered HTL’s Xavier Plunkett.

“Further there exists significant underlying value in the 10 poker machine entitlements” Plunkett added.

“The Hotel enjoys favourable trading terms, due to the limited local pub competition and with only 2 hotels offering gaming in an active town of 14,000* people” continued Plunkett.

“This is reflected in the significant gaming revenue of approx. $1,000,000 per annum coming from just 10 poker machines (the second highest performing 10 machine pubs in regional NSW) in a completely un-renovated and disjointed gaming offering” Plunkett offered.

“The asset also presents significant upside in the bar and food departments, with the current operator not operating the kitchen. A quality food offering would drive both bar and food sales” stated HTL’s Blake Edwards.

Inverell ‘known as the Sapphire City’, promotes a strong rural economy, and acts as a major service centre for the wider New England rural catchment. The local economy is underpinned by mining, a strong rural sector and bolstered significantly by the Bindaree Beef Abattoir; which itself provides over 750 stable blue-collar jobs to the township.

The vendor is a private owner-operator, who is looking to concentrate on larger portfolio assets within its wider stable of hotels.

“We expect strong interest from both metropolitan and regionally based hoteliers, as well as local investors given the strong underlying performance of the asset, and the highly favourable economic drivers in the wider Inverell economy” concluded Edwards.

The Imperial Hotel is being offered for sale via an Expression of Interest sale process concluding Thursday 22 June (unless sold prior).

End.