The Brownlee family have put to market their monarchical Belmore Hotel, in the NSW equine capital.
Built 1866, the two-storey Belmore of Scone was originally named the Railway Hotel, before being renamed the Belmore in 1871, following a visit by the Earl of Belmore.
Occupying a prominent 1,555sqm lot on Kelly Street, it stands adjacent to a high-traffic Woolworths and BWS, and approximately 90 car parking spaces.
It features public bar, bistro, gaming room with eight Band 2 EGMs, expansive beer garden and nine refurbished accommodation rooms, under a 1am licence.
The Brownlees have owned it since 2008, but for the past five years it has been under lease.
As the tenancy concludes, the family espied the market conditions and opted to call it a day.
“We have made a collective decision as a family to divest the asset,” offered Hammond Brownlee.
“The Hotel has been wonderful to our family over the years, but ultimately we believe now is the right time to sell, given the strength of the current market.”
Located in the highly desirable upper Hunter Valley, offering sought after lifestyle and economic opportunities, the sale is expected to attract both Sydney and regionally-based hoteliers, as well as investors drawn to the region.
The pub offers considerable upside opportunity in its gaming, beyond adding more machines, through application of a smoking solution and improved rear access, updated hardware and the addition of CRT and TITO, as well as improved signage and promotion.
It’s expected to achieve a sale price of circa $4.5 million.
“The asset presents a clear upside play for an experienced operator, offering all of the most desirable attributes sought by the most successful publicans, including a large land holding, main street location, high-volume traffic and the latest trading licence in town,” offers HTL Property’s Xavier Plunkett, marketing the Hotel with colleague Blake Edwards.
The freehold going concern of the Belmore Hotel is for sale via Expressions of Interest, closing Thursday, 4 November.
