Holdam Group and their tenant have put to market the freehold going concern or passive investment of the undercooked Commercial Hotel in Krambach, on the mid-north coast.
The two-storey family-friendly country hotel resides on a 4,302sqm lot on the historic Bucketts Way, which is a former stretch of the Pacific Highway known as State Highway 10 from 1928 to 1952, now a scenic tourist drive for visitors exploring the Barrington Coast.
It is central to a welcoming community and town amenities, surrounded by scenic farmland and hinterland drives, offering a main bar, commercial kitchen and bistro with indoor and outdoor dining areas, gaming lounge with five machines (Band 2 entitlements), plus on the first floor an office and six accommodation rooms, currently used as a manager’s residence.
The public bar sometimes hosts live music events, showcasing local talent, and the bistro serves lunch and dinner dine-in or takeaway, and is operated by a third party.
Set within the MidCoast Council district, Krambach is a quiet town dominated by picturesque countryside, well placed as a stopover between the coast and inland regions.
Since 2015 the Commercial has been owned by local investors Holdam Group, taking over as landlord on a lease that has been in place since 2007. It has seven years remaining, until October 2032, with annual rent review in line with CPI.
Holdam opted to divest the hotel to fund other projects, and seeing the opportunity, the lessee decided to also offer up their interest if the purchaser wants the freehold going concern.
Reported to benefit from its strong local identity, a steady influx of visitor traffic and the welcoming character of the area, the restapled hotel is being sold via Expressions of Interest through Manenti Quinlan’s Leonard Bongiovanni and Tom Cullen, who note the scarcity of available assets in the region.
“The opportunity is for a hands-on operator to take back the bistro, and take advantage of the location halfway between Taree and Gloucester, to create a vibrant local and destination hotel,” says Bongiovanni.
