The pride of Condobolin has hit the market, as its long-serving tenant turned owner-operator heads to pasture.
Long-time AHA member Jimmy Clyburn has owned the Condobolin Hotel for 27 years. Prior to that he leased it for several years.
Condobolin is a town of nearly 3,000 residents, 100 kilometres west of Parkes, or about six hours’ drive from Sydney.
The time has come where Clyburn is considering life spent training his trotters on his property at Parkes, and has put the pub out to tender.
The Hotel enjoys a high-profile corner location on a good-sized 1,880sqm block. It comprises two interconnected bars with very active TAB and Keno, bistro and commercial kitchen, pool room and new covered outdoor beer garden.
There are 12 gaming machines, located in two rooms, both with smoking solution, and the only other pub in town does not have gaming.
Adjoining the Hotel are eight motel units plus a three-bedroom manager’s apartment, and a commercial premise also included on the title.
Resumed operation for FY21 shows average weekly revenue of more than $43k, largely stemming from very strong bar trade generating over 50 per cent of revenue “week-in week-out”.
The business does not incorporate a bottleshop, but does strong takeaway sales over the bar.
“The food chugs along well, but it would be hard to find a pub in the city doing bar numbers like that,” notes Charlie Fenton of Manenti Quinlan, who is marketing the asset for Clyburn.
The market for strong-trading regional assets with accommodation is heating up, and comparable properties are seeing values well north of $3 million.
The Condobolin Hotel freehold going concern is for sale by Private Treaty through Manenti Quinlan.
