The big, bold Astra Hotel of Broken Hill has hit the market as a long-time owner focuses on the west.
The two-storey Astra Hotel is one of Broken Hill’s best-known venues, on a prime CBD corner site of 1,012sqm with over 70 metres of street frontage, and wrap around street level veranda providing ample alfresco areas.
It offers bars, dining and cafe areas, function space and quality accommodation with balcony views overlooking town.
A symbol of Australia’s vast inland plains, Broken Hill is central to Adelaide, Sydney and Melbourne and counts a population approaching 20k residents.
Established in 1883 after the discovery of silver ore, it has remained prosperous and in 2015 was put on the National Heritage List, being Australia’s longest running mining town. A strong local economy is bolstered by industry, tourism and the arts, plus a robust calendar of events.
For around 20 years the Astra has been in the hands of the privately owned Better Lifestyle properties, based in Perth. The pub was operated under management, under the purview of the owner’s brother, who had worked in pubs for decades and lived in town.
Having recently divested another commercial property in Perth, the vendor is looking to other opportunities in the west and has listed the Broken Hill landmark.
Reporting substantial and varied income streams and multiple upsides for an incoming owner.
“It’s a great opportunity to own a piece of an Australian icon,” suggests CBRE’s Mat George, marketing the asset.
“Broken Hill is the birthplace of ‘the big Australian’ and plays host to massive feature films and festivals.”
The freehold going concern of The Astra is being sold via Expressions of Interest, closing Wednesday, 15 June.
