Hospitality developer Armada Hotels & Leisure is offering an operations partnership in its ready-to-build greenfield site the Parkside Tavern in the burgeoning Territory.
Set to be located at the arterial junction of Bloodwood Street and Tuckaroo Boulevard, on the outskirts of Darwin, the new Tavern will be within the highly anticipated Zuccoli Aspire development in Palmerston, amongst thousands of new residences.
Armada envision Parkside as a strong F&B offering, and have designed it to provide versatile spaces for dining and entertainment, featuring a large main bar, bistro, indoor and outdoor foodservice areas, gaming room licensed for 20 machines, and a beer garden.
The planned site is being sold as a “turnkey” offering, with Armada looking to work with a hotel operator during construction of the pub, before handing over upon completion.
Armada principal David Anthony says they want to create a pub “for the whole community” and are buoyant on its prospects.
“The Tavern is well poised to become a central recreational hub for the south Palmerston community.”
A development application has been submitted and approved, and work is expected to commence in 2025, in the dry season, and likely to take around six months. ZestDCA has been engaged as the builder.
Armada has history in similar projects, constructing and selling the Parap Tavern to ALH.
Palmerston is seeing continued strong growth and growing population, with diverse economic drivers, and the company see now as the ideal time for the new venue.
The Northern Territory is granting no new liquor and gaming licences, but both have been secured, with the gaming operation to draw on the collective asset pool, and no other headwinds are anticipated in the jurisdiction.
Working on estimates drawn from state averages, marketing literature projects the Tavern to be producing around $2.5 million EBITDA by the end of its first year.
An Expressions of Interest campaign is being run on the opportunity through HTL Property’s Glenn Price and Andrew Jolliffe, closing Thursday, 14 November.
The Territory has come to include hotel operators and groups from around Australia, including ALH and Australian Venue Co, and the sale opportunity is expected to appeal to a national buyer pool.
“Opportunities such as the approved Greenfield site in Zuccoli are as rare as they are valuable, particularly given the moratorium on new licenses in the NT,” says Price.
“The NT Pub market has arrived on the national stage, with hoteliers from all states of Australia owning and operating hotels in the nation’s top end.”
