Long-timers Peter and Judy Bugden have passed the baton at their Bago Tavern on the mid-north coast to local Glenn Knight.
The Bago is located in the historic town of Wauchope, inland from Port Mac, just shy of 400 kilometres north of Sydney, reporting a local population of nearly 8,000 souls.
It occupies a generous 4,515sqm lot, comprising a front beer garden, public bar, bistro, gaming lounge with five machines, and rear beer garden with children’s playground.
The business also holds a four-bedroom upper-level apartment, and a free-standing residence.
Peter and Judy have owned it for nearly 18 years, and looking to retirement engaged Manenti Quinlan & Associates for a discreet off-market sale campaign.
Bago Tavern has now found new home with growing local operator Glenn Knight, who also holds the deeds at the Laurieton Hotel Motel, around 30 kilometres south of Wauchope.
Knight’s immediate plans are to build on the reputation of the much-loved local.
“It was a real pleasure to work with the long-term vendors in realising the value of their asset, which they have poured so much love into over the years,” he says.
“It will be exciting to guide it into its next chapter.”
Well-positioned for the boom in business and development taking place in strong regional precincts, the Tavern’s large lot is prime for uplift.
“The demand for quality hotel assets has demonstrated a resilience, with purchasers identifying value-add opportunities in strengthening their existing portfolios,” notes MQ’s Leonard Bongiovanni, who brokered the sale.
