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VEGAS HOTEL

» VEGAS HOTEL
  
54-56 Darlinghurst Road, Potts Point, Australia
  • Former No.1 gaming Hotel in NSW – 1 of only 8 Hotels to ever achieve this prestigious ranking
  • Best of the Eastern suburbs gaming Hotels – top 4% of gaming pubs in the state
  • Average weekly gaming turnover of $1,179,899 and net profit of $104,201 for H1 F17
  • Rare 24 hour liquor licence with 3 hour shutdown (seven days per week)
  • 30 gaming machines (17 x PME’s + 13 x PMP’s) – $6.5 million underlying value
  • Operated under a ‘passive’ management model – single service point/'turnkey' operation
  • Significant redevelopment potential underpinned by zoning, FSR, height approval and existing unused floors – opportunity for 6-7 storey residential/accommodation conversion
  • Dynamic precinct with explosive residential growth and gaming demand drivers – across the road from train station, Woolworths and Omnia development
  • Diminishing availability of AAA grade gaming pubs across Sydney – 13 x top gaming pubs sold in the last 6 months at an average yield of 8.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

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