Available for the first time in forty years, the Coppin family has listed its institution the ‘Roey’ Roebuck Bay Hotel.
The Hotel was established in 1890 by E.W. Streeter, becoming one of the first buildings in Broome. A former London Jeweller, Streeter held pearling interests in Broome and South-East Asia, and built the pub to encourage pearling crews to remain in town.
The original building was destroyed in a fire in 1904, replaced by the current structure, which has become known as one of WA’s oldest and most iconic venues.
Occupying eight separate titles totalling 11,922sqm, with frontage to three primary streets, the pub known locally as ‘The Roey’ is in Broome’s major commercial precinct.
It offers Pearlers Bar & Bistro, the Oasis Bar – said to be Broome’s leading live music and entertainment venue – large commercial kitchens, beer gardens, alfresco areas and a free-standing drive-through bottleshop.
It also includes 37 motel rooms sporting various configurations, a backpackers’ lodge, reception and office area, six retail shops, and large parking areas.
The late Brian Coppin purchased the Hotel in the 1980s, and it has remained in the hands of the Coppin family, who have overseen it becoming one of the largest venues in northern Western Australia, generating annual revenue approaching $20 million – around 80 per cent of this coming from a small part of the 1.2-Ha landholding.
Demand for accommodation in the area sees occupancy rates approaching 100 per cent on weekends and peak periods, and the property lends itself to further development, surplus land potentially used for commercial operation or expansion of the current accommodation facilities.
Hitting a hot market for proven hospitality assets, the Roey is being marketed by CBRE Hotels’ Ryan McGinnity and Derek Barlow, who anticipate interest from owners and operators around Australia and potentially overseas.
Agents stress The Roey is “more than a typical local pub investment” and marks a ‘once in a generation’ opportunity.
“Given the demand for regional assets on the eastern seaboard, we think The Roey is ideally suited for groups to acquire and expand their operational footprint in one of WA and Australia’s most loved tourist towns,” furthers McGinnity.
The freehold and business of the Roebuck Bay Hotel is being offered for sale via Expressions of Interest, closing Thursday, 1 September.
