The business of the Bangor Tavern has been put to market, offering a well-rounded operation in an exclusive Sydney metro catchment.
Located around 35 kilometres south-west of the Sydney CBD, Bangor is a prime developing precinct with residential population of around 32K people.
Immediately adjacent to the lively IGA-anchored Bangor Shopping Centre, the Tavern is a site of roughly 1,500sqm within the 1.4-ha shopping centre land holding. It features a bar, bistro, gaming room with 15 GMEs in a smoking solution, and a beer garden.
The business generates average weekly revenue close to $110K, with a balance of contributions from all departments.
It was operated for 13 years by Jason Marlow, before he divested late 2017 to private owners Adam and Amanda Micola, who have decided now to call time on the busy pub.
The Tavern sees “very high” foot traffic via the roughly 180 car parking spaces it shares with the shopping centre. It’s suggested the right buyer could expand on the hospitality business or redevelop, through purchase of the shopping centre site from the freehold owner.
There is more than 21 years remaining on the current lease, including options, and marketing literature describes the rent as “sustainable”.
Market guidance on the sale price is said to be upper $6-millions.
Significantly, the Bangor Tavern boasts no clear competition from any other immediate pubs or taverns with gaming.
“This is therefore arguably the metro version of being a ‘one pub town’,” suggested HTL Property’s Blake Edwards, marketing the asset with colleague Andrew Jolliffe.
The leasehold interest of the Bangor Tavern is being sold through an Expressions of Interest campaign, closing Thursday, 28 November.
