After more than four decades, the Stanford family has put up its extremely large-format Vineyard Hotel and operation, in Sydney’s northwest growth corridor.
The mixed-use hospitality operation is on 76,900sqm on a corner of Windsor Road, providing a traditional sports bar, with TAB, Keno and live sport on big TVs, a relaxing Lounge Bar, indoor/outdoor Bonanza Lounge with 30 EGMs, bistro, children’s play areas, beer garden, function facilities, bottleshop, and motel accommodation with 57 rooms.
The Vineyard is typically ranked around 200 on the L&G list of NSW pubs, despite 21 of its machines not being in a smoking solution.
Marketing reports around $250k a week total revenue, but its footprint and opportunity in the area could see it achieve twice that in due course.
The Stanford stable also counts the Carousel Inn Hotel at Rooty Hill and the Riverstone Hotel, and after holding the Vineyard 42 years they believe the answer is fresh eyes.
“Our family have been proud owners and operators of this incredible suburban hotel operation for four prosperous decades, and whilst we have been consistently rewarded by the growth of both the business and surrounding population base, we recognize the time is now upon us to hand the baton across to a new owner in order to chart the asset’s course for the next 40 years,” offered Glen Stanford.
Beyond the Vineyard Hotel business, the expansive property holds an approved D.A. for a further 84 motel rooms, across four buildings, to be developed on currently superfluous land.
Historically the business had two motel buildings, totalling around 40 rooms, before the Stanfords secured a DA to add another five structures. One of these has already been built, and civil works, including the infrastructure, road and carpark have been prepared for the other four proposed buildings.
The site is zoned for additional hospitality, with good use seen to be catering to functions and weddings, and potentially large-scale outdoor events.
It is located within five kilometres of approximately 30,000 new homes underway in major housing estate developments at Gables, Box Hill and Hills of Carmel.
Sale of the Vineyard offers the buyer opportunity to reshape the size and complexion of the business to suit the exploding nearby population.
Price expectation is in the region of $60 million.
It is being marketed by HTL Property’s Dan Dragicevich, Andrew Jolliffe and Sam Handy, who are focusing on the potential of such a large site.
“The sheer scale of the land holding lends itself to a level of additional and mixed-use flexibility not common anywhere else on the national landscape, let alone within the boundaries of the country’s largest city,” suggests Dragicevich.
The Vineyard Hotel and property is being sold via Expressions of Interest, closing Thursday, 7 October.
