The Greenwell Point Hotel and land package have hit the market, amid big local development in the Shoalhaven ‘gateway to the south coast’.
Greenwell Point is an idyllic fishing village on the banks of the Crookhaven River, about two hours south of Sydney, and its self-proclaimed “friendly five-star pub” is the only hotel in the area, and the centre of town.
The single storey brick building sits upon 3,408 square metres, with frontage on Greenwell Point Road and Wilson Way.
The freehold of the pub, leased until mid-2022, plus an adjacent 1,853 m² block have come to market, representing a unique development opportunity in a region seeing consistent population growth. The Department of Planning has already approved a $25m tourism development for nearby Greenwell Point Village and Goodnight Island.
The hotel consists of a main bar, bistro, commercial kitchen, onsite parking, TAB and gaming lounge with 15 EGMs. There are also six detached accommodation suites, and a drive-through bottleshop.
The rental income of the hotel block is circa $360k with annual incremental increases, and marketing agents Manenti Quinlan report the total site of 5,261 m² represents a unique situation.
“There is the opportunity to receive the rental income from the Hotel while developing the adjoining land, or receive the rental income and at the termination of the lease redevelop the total site,” Gerry Quinlan suggested to PubTIC.
The Greenwell Pt Hotel and land package are being sold via Expressions of Interest, closing Thursday, 6 April.