Master publican Tony Prentice has put up his historic Criterion Hotel of Warwick as he looks to an exit from the industry.
The two-storey brick Criterion of today was built in 1917, for the Allman family, for an estimated price of £12,000. It replaced the existing Criterion, which was a single level timber Hotel, on the site since the 1860s.
It was acquired by Irish-born Jeremiah Allman in 1887, who emigrated to Australia and went on to become actively involved in the development of the town of Warwick, serving as Mayor in both 1895 and 1902.
Upon his passing in 1910, the asset was transferred to his son, Daniel. It remained in the Allman family until 1968.
In 1992 the Criterion Hotel was listed on the Queensland Heritage Register.
Warwick is a town of more than 15k residents, around two hours south-east of Brisbane.
The Criterion provides a public bar known as the ‘3 Bullet Bar’, commercial kitchen and bistro with club bar, gaming room with 35 machines, two function areas, beer garden, 23 pub-style accommodation rooms, plus an apartment and a self-contained suite.
It does strong trade in retail liquor, aided by two detached bottleshops – one leased in a Woolworths-anchored shopping centre, the other a freehold on Wood Street.
Also included in the sale is a vacant lot at 14 Wallace Street and a house at number 16, beside the Wood Street bottleshop, branded Liquor Legends.
The combined operations report consistent turnover and net profit of in excess of $1.35 million.
Veteran Queensland operator Tony Prentice has owned the pub and business since 1999.
In recent times he has sold his Weeroona Hotel in Goodna and the Walloon Hotel, and is now divesting the Criterion as he ramps up plans for retirement.
Its large landholdings and full complement of EGMs is likely to see sale price north of $10 million.
“It’s what we describe as a well-balanced operation, strong in retail and gaming and across departments,” suggests Andy Nason of Power Jeffery & Co, managing the sale.
“It’s got the lot!”
The freehold going concern of the Criterion Hotel and assets is being sold via Private Treaty.
