NEW OWNER SOUGHT FOR CROSSROADS HOTEL

In On the Market by Clyde Mooney

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Narrabri’s Crossroads Hotel has come to market, boasting a big operation, two-dozen 4-star rooms and its very own bowling alley.

On the stretch of the Newall Highway where it crosses the Kamilaroi Highway, the Crossroads Hotel occupies a generous 1,677m² block in Narrabri, around 450 kilometres west of Coffs Harbour.

The two-storey Hotel was built in 1861 and incorporates two bars, a commercial kitchen and bistro, a pizza oven and landscaped beer garden. It currently holds just two gaming machines, but with permits for another six.

It has won many regional and state awards, including the AHA NSW award for Best Budget Pub-Style Accommodation in 2013.

The existing 10 accommodation rooms have been upgraded and complemented by the addition in 2015 of a separate structure on the lot, housing another 14 rooms. All 24 are rated 4-Star and self-contained, with ensuites and kitchenettes.

The entire pub has been recently renovated, bringing the addition of a unique point of difference for the town and surrounding region. A properly automated two-lane bowling alley was constructed, which has proven very popular with locals and travellers.

Narrabri is a town of around 7,300 people, servicing half a dozen neighbouring townships. The region boasts an array of sporting clubs, playing rugby union and league, cricket, netball and soccer – most of which are proudly sponsored by the Crossroads.

The Hotel has been seeing revenue around $2.8m (annualised) and comes with an asking price of $4.75m, representing a 19 per cent yield.

The sale campaign is being managed by CRE Brokers, and agent Paul Harley says it’s a great all-rounder.

“It’s extremely popular for local families,” Harley told PubTIC. “The bowling alley is unique to a hotel; coupled with great food, they just love it.

“It ticks a load of boxes for experienced operators and those entering the hotel industry, ready to enjoy the cash flow.”

The freehold going concern of the Crossroads Hotel is being sold via Expressions of Interest.