The regal Royal Oak Hotel Cessnock is for sale under instruction by forensic accountants, following a stoush with the ATO and massive tax bill.
Doctor-publican John Harvey purchased the prominent two-storey brick pub in 2011, sharing resources with his dental practice for tax purposes.
Fighting what he labels “unsubstantiated” tax debt, he launched a battle with the tax department late 2019, bolstered by the results of a Federal Court decision from July with enough similarities to suggest he might have a case for negligence by the ATO.
In February this year the Royal Oak was forced to close, and Worrells Insolvency & Forensic Accountants appointed.
Built 1922, the pub enjoys a prominent corner in Cessnock – the gateway to the Hunter Valley, with local population over 15,000 and major tourism traffic.
It features a bar, bistro, and spacious rear beer garden, 14 pub-style accommodation rooms upstairs and a separate cafe point of sale at the front, with ample off-street parking.
In 2014 the Royal Oak took the title of the nation’s ‘best restaurant in a pub, club or tavern’ at that year’s Savour Australia Restaurant & Catering Awards for Excellence.
It is being sold under instruction through HTL Property’s Blake Edwards and Xavier Plunkett, who note its revenue diversity and the strong demand for accommodation in the area.
“We think there is enormous opportunity for a hands-on operator to take advantage of the existing character and fit-out of the venue, and consequently to reposition the offering to create the premier food and beverage outlet in Cessnock,” suggests Edwards.
The freehold vacant sale of the Royal Oak Hotel Cessnock is by Expressions of Interest, closing Thursday, 9 July.
