Hitting the market this week is the Crookwell Hotel outside of Goulburn, coming with textbook upside atop a strong mixed revenue business.
Crookwell is a town in the NSW southern tablelands, north-west of Goulburn, around 200 kilometres inland of Wollongong. Settled in the 1820s, it was originally known as Kiama.
The community of roughly 2,700 souls is based in rural industry, the area renowned for its potato farming, but also holds the title of having the State’s first wind farm.
The handsome Victorian-style two-storey pub, built 1884, resides on a 2,183sqm corner site.
It incorporates single-service bar, commercial kitchen and bistro, gaming room with 10 EGMs, a function room for 100-pax, well-patronised drive-through bottleshop, eight pub-style accommodation rooms upstairs plus a big four-bedroom manager’s residence, and another eight motel-style rooms at the rear.
The Crookwell is the only pub in town with gaming machines, although all are dated and not housed in a smoking solution. Marketing literature reports there is an easy fix available.
The pub shows weekly revenue north of $55k.
Bruce Cox has been operating the Crookwell for around three and a half years, but now in his 60s, feels ready to retire.
He has engaged Manenti Quinlan’s Charlie Fenton – a fourth-generation publican – to market the operation, with clear blue sky.
“It’s always good to leave something for the next guy,” suggests Fenton.
Visiting regional properties across the State, Fenton says the Crookwell “presents very well” with nothing to do beyond its operational opportunities.
“I believe there is plenty of potential in the Hotel, with upgrading the gaming, and perhaps promoting locally for functions, and supporting local sporting clubs.”
The leasehold interest of the Crookwell Hotel is being sold with price guidance of $480k.
