The Woolworths-backed ALH has emerged as buyer for the elegant ‘Tavern @ The Rocks’ in a major growth corridor out of Perth.
The Tavern overlooks Two Rocks Marina, at the northern edge of the Perth metropolitan area, offering a large-format pub licensed for 912 people on a 2,864sqm site, beside an IGA-anchored shopping centre.
It includes a public bar with large TAB area, function room, terrace, restaurant dining, lounge bar and beer garden, with ample parking, and the lot size brings future residential or commercial development potential.
The private family that have owned and operated the Tavern listed it in April through CBRE’s Ryan McGinnity and Chloe Mason, bolstered by plans for local infrastructure.
“With recent commitments from the government to extend the freeway and rail to Yanchep, Two Rocks and surrounding suburbs are expected to be among the fastest growing residential areas in Perth,” offered McGinnity of the sale.
“The Tavern @ The Rocks can only benefit from this growing catchment.”
CBRE did not provide further details but report the sales process attracted publicans from several states, as well as developers looking to capitalise on the significant landholding.
Australia’s largest pub group, Australian Leisure & Hospitality (ALH) operates over 330 pubs across the country, already counting around three dozen in Western Australia.
The freehold going concern of the Tavern @ Two Rocks will join the portfolio alongside the likes of The Saint, The Queens, The Carine, Hyde Park Hotel and the Greenwood Hotel. Sources suggest purchase price was close to $2 million.
In July Woolworths announced long-term plans to strengthen ALH and merge it with its drinks division, Endeavour, ahead of a demerger from the supermarket giant and subsequent private sale or IPO.
