The large-format Railway Hotel in regional powerhouse Parkes is being sold, as the region undergoes broad investment and the owner-operator takes a step back.
A two-storey brick structure with an elegant upper-level all-weather balcony and Federation parapet embossed with its establishment year of 1915, the Railway is set on a prominent 2,017sqm corner across three lots, close to the railway station and overlooking the town’s distinctive railway precinct and silos.
Street level incorporates the main bar, bistro and separate room with pool and TAB – each connected at the rear, for an efficient operating configuration – as well as Keno facilities and a dedicated gaming lounge with nine machines.
Six of the gaming entitlements are held by the Railway while the other three are currently leased from the nearby Commercial Hotel, but all nine are included in the sale.
On the upper level there is a self-contained manager’s residence and key attraction Hart Bar, being a separate dining, entertainment and function space with its own commercial kitchen.
The business reports weekly revenue of around $57k, with half of this coming through the bistro and another 32 per cent across the bar. While both departments are slightly down on FY25 figures, meaning opportunity for regrowth, gaming and other streams improved this year.
Parkes’ local economy is across agriculture, mining, transport, logistics, government services and tourism and it is seeing continued investment, most notably major infrastructure including the Inland Rail and the Parkes Special Activation Precinct.
It is destination for tens of thousands of visitors annually, drawn to attractions including the CSIRO Parkes Radio Telescope – Murriyang, and the Parkes Elvis Festival each January, bringing over 24k rock ‘n rollers.
Ken Baker owns both the Railway and the Commercial Hotel, which he is retaining.
He has MQ & Associates’ Leonard Bongiovanni running an Expression of Interest campaign closing Thursday, 12 November on the central west freehold going concern, offering a substantial regional freehold with established trading base and avenues for upside such as revised f&b.
“The gaming room also presents an opportunity for an incoming operator to further develop that department, while the Hart Bar, wraparound veranda and broader food and beverage facilities provide plenty of scope to continue building the hotel’s overall trade,” suggests Bongiovanni.
While no price expectation has been provided, the in-situ gaming entitlements alone are valued well over $4 million.
“There is a lot to work with here,” furthers Bongiovanni.
“It is a substantial freehold, the trading areas are already well established, and there is genuine flexibility across the ground and first floors for an experienced operator to put their own stamp on the business.”
