As ALH puts a spotlight on Sunshine State pubs, the family-owned Leichhardt Hotel in Taroom has been put to market as a lease or freehold.
Taroom is a town in the Shire of Banana and the Western Downs region, around five hours’ drive north-west of Brisbane, counting a little shy of 900 residents.
The Leichhardt is a single-storey structure on a 3,400sqm block on Dawson Street, one of Taroom’s main drags. It provides a public bar with TAB and Keno, ten gaming machines, well-appointed kitchen and dining area, a Bottlemart retail offering, and 14 adjacent motel rooms, split between two buildings.
The bar has been recently renovated, with a new beer system and timber and iron face providing an ‘outback shed’ look.
There is no other pub in town, and the nearest is 60 kilometres to the south.
It has been in the hands of the current private owners for more than a decade, and looking to leave the business behind – but stay in town – they have listed it as a new lease or business and title.
During 2018 and much of 2019 it was run entirely under management, at an annual cost of $65k. Annual revenue is reported at more than $2.5 million.
“This is a fantastic opportunity for the astute hotelier or novice to get into the industry for very little outlay,” suggests Terry George of Ray White Commercial Toowoomba, marketing the asset.
“It’s not very often such a strong business in a community-spirited town comes along that has five different revenue streams under the one roof, and the availability to purchase for less than most people pay for a house.”
The vendors are offering a new 30-year lease to the right party, or a freehold going concern sale for circa $1.65 million, representing a 30 per cent return.
