The Royal Hotel of Condobolin has come to market, after 20 years’ ownership by local legend Paul “Blue” Reardon.
The Reardon family have occupied Condobolin for over 60 years and become pillars of the community, with business ventures in farming, stock and station agency, development and hospitality.
Although the Royal itself is well established and reports good numbers, it is held as security against other investments, and unfortunately administrators have given the instruction to sell.
Condobolin is a community of around 4,000, around six hours west of Sydney, and childhood stomping ground of pop singer Shannon Knoll. When the Imperial Hotel closed early 2017 it left the region with just three pubs, including the Royal.
The Royal is the best-performing pub for the area on the L&G list of NSW venues, although it is yet to see a smoking solution for the gaming room. The nearby Hotel Motel also has EGMs, but the Railway does not.
The pub is taking revenue of circa $30k per week, without the use of its 20 accommodation rooms, and a kitchen open only five days per week.
The large-format main-street Hotel has been put to market through Colliers International’s Peter Seeto, in conjunction with local agent Ian Simpson, leading to an auction of the freehold going concern.
“It really needs a good fresh set of eyes, ears and enthusiasm as Blue has been at the helm for 20 years and has several focuses,” offers Seeto.
The Royal Hotel will be auctioned on Thursday, 19 April, at the offices of Colliers International, Level 5, 1 Margaret Street, Sydney.
