Red earth oasis the Lightning Ridge Hotel Motel & Outback Resort has been put to market.
Set on a massive 40,000sqm (4-Ha) lot, the venue holds the only pub and hotel liquor licence and only gaming licences in the town of Lightning Ridge.
It provides a public bar, gaming room with 14 PMEs, commercial kitchen and bistro, beer garden, and large freestanding bottleshop.
The business also incorporates 50 ensuited motel rooms, 10 cabins, 49 caravan spaces (46 with power), pool and amenities.
The gaming operation is currently ranked #706 by Liquor & Gaming, as the entitlements reach circa $9 million in-situ value.
Lightning Ridge is a world-renowned opal mining town, around 700 kilometres north-west of Sydney.
It counts a strong blue collar population of nearly 2,000 residents (2021 CENSUS), with even more visitation recently as domestic travellers and grey nomads head to the bush.
The Hotel’s trading has reportedly benefited greatly from the increase in regional travel, as well as the town’s strong local opal mining and agricultural sectors.
It is being sold as a freehold investment, with a flexible tenant who has operated it for more than 20 years.
The private owners collect passive annual rental income of almost $760k (+GST), and expectations are for a contingent of candidates to vie for sale price around $10 million.
“The offering will appeal to a broad host of potential purchasers,” suggests HTL Property’s Xavier Plunkett, marketing the property with colleague James Carrick.
“We expect interest from established publicans and hoteliers, national caravan park investors, and high net worth investors who will be attracted to the desirable passive return on offer.”
The freehold passive interest in the Lightning Ridge Hotel Motel & Outback Resort is being offered by Private Treaty.
