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40-46 Lannercost Street Ingham QLD 4850

  • Hotel / Leisure
  • 1,200 m²
  • For Sale, $1,950,000

For Sale - Royal Hotel Ingham

The pub was originally built in 1886 and was completely re-built in 1925. The Sellers have kept the property in pristine condition throughout the years. The Seller's mother, Pina Quagliotto, purchased the property in 1959. Alan Quagliotto first bought in during the early 2000s and became a full owner with his wife, Sharyn, in 2009. It has been owned by the Quagliotto family for 60 years.

The pub made $363,177 for the 18-19 financial year. There is a lease to the newsagency for $44,000pa and the Royal Hotel pays $65,000pa in rent.

Upsides
1. The pub has a commercial kitchen that is underutilised. It only provides catering for functions and lunches on Wed-Fri only
2. The pub has 15 gaming licenses with approval for 2 more. There are no licenses available for tender within the coastal area of Queensland
3. There is no TAB
4. There is no Keno
5. The beer garden isn't fully being utilized for events or live music
6. The site is 3,091sqm with a coverage of about 50% - there is room for expansion
7. There is room for a drive-through
8. Accommodation
9. A function room and attached bar with a maximum of 260 people

Sale
The pokie business with 15 licenses and roughly $220,000 worth of machines with approval for 2 more licenses. There is over $1,000,000 worth of pokies and licenses.

There is a business.

There is freehold real estate and land.

Targeting a sale at $1,950,000.

Property Highlights

Property ID2015857636
Floor Area1,200 m²
Land Area3,091 m²
Parking10 x Onsite parkings
Building TypeWhole building
Annual ReturnAsk Agent
AvailabilityAsk Agent
Category
Last updated  8 Nov 2019
Map for 40-46 Lannercost Street Ingham QLD 4850
E Property Consultants NQ
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