BOOMING BANGOR UP FOR GRABS AGAIN

In On the Market by Clyde Mooney

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The booming Bangor Tavern has come to market boasting a big catchment and upside, as the vendors seek other opportunities.

The Bangor is the only pub in the suburb, 35 kilometres south-west of the Sydney CBD, on around 1500sqm within the 1.4Ha Bangor Shopping Centre.

It counts a popular main bar, large beer garden and gaming with 15 EGMs, nine in an attractive smoking solution, with two entrances off the carpark, for the main bar and VIP lounge.

The Tavern has climbed to #473 on the Liquor & Gaming NSW rankings, up from a low of #588 in March 2017, but still below a high in 2015 of #420.

It reports over $94k weekly revenue, with bar making up 45 per cent and the bistro 26 per cent.

Bangor is becoming increasingly popular, but so far the median house prices are on par with greater Sydney, while household income in the area is 30 per cent higher and 46 per cent of home-owners own the properties outright, meaning high levels of disposable income.

After operating it for 13 years, Jason Marlow divested the Bangor to private owners a few years’ ago.

Looking to explore other options, the leasehold interest until 2040 is now on offer, with weekly rent just north of $10k, representing around nine per cent of current earnings.

“Bangor Tavern is a popular and attractive suburban leasehold with strong revenues in all departments,” reports Knight Frank’s Kate MacDonald, marketing the pub with colleague Mike Wheatley.

“The location in Sutherland Shire is superb, with Woronora Bridge separating the pub and surrounding suburbs from competition hotels in Miranda, Kirrawee and Sutherland.

“All revenue lines at the hotel have improved significantly over the past 18 months. Further growth will be realised under an operator who continues to collaborate with the local community, and invests some time into implementing an enhanced gaming offering.”

The leasehold interest of the Bangor Tavern is being sold via Private Treaty.