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Large 1,685sqm* Freehold Going Concern Hotel strategically positioned within the popular Cooks Hill entertainment precinct and in the heart of the current construction boom between Newcastle and Newcastle West
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Situated on the busy arterial road of Darby Street, enjoying excellent exposure
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Current weekly revenues of ~$200,000 across bar, gaming, wagering, bistro and retail liquor
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ILGA approved 2am liquor licence with 6 hour gaming shutdown – currently only trading to midnight
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22 x gaming machines – scope to increase to allowable holding of 30 machines – #536 in Jun-22 gaming rankings
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Adjoining rear council car park comprising ~50 spaces
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$160m* Wests Group redevelopment at 309 King Street includes two 14 storey mixed use buildings consisting of a 144 bed seniors aged care facility, 82 seniors independent living units and 166 general residential apartments, along with ground floor cafes, restaurants and a medical facility with underground parking for 286* cars
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5 unutilised motel style accommodation rooms on first floor
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Recent $2.5m* renovation to gaming room and public bar
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Luchetti Krelle plans to reinvigorate the ground floor bistro and first floor area