CBRE Hotels have been retained to offer the Northlakes Tavern to market as a freehold going concern, subject to a long term leaseback of the First Choice Liquor store to Coles.
This truly is an extremely rare hotel opportunity which astute hoteliers will recognise for exhibiting the following compelling investment fundamentals:
– NSW Central Coast freehold going concern tavern on an enormous 7,255sqm site adjoining Coles-anchored shopping centre
– Undeniable growth region – 118km* north of Sydney and 56km* south of Newcastle
– Valuable and rare 3am Hotelier's Licence with 24 PME's – TOP 200 #377 (Dec-17)
– Desirable on-premise mix of trade with average revenues in excess of $80,000* per week and with plenty of scope for improvement
– Separately leased First Choice Liquor store providing secure rental income from Coles with commencing rent of $350,000 + GST
– Strong local demand drivers with the Central Coast Gross Regional Product totalling $12.73bn and bullish future population growth projections
– Extremely 'under-pubbed' region with high barriers to entry (Band 3 LGA) – only two hotels servicing 45,000* residents
– Opportunity to reconfigure the hotel to create operational efficiencies fuelling departmental revenue growth
*approx.
