The commanding Charles Sturt Hotel of Narrandera has found its way to market, joining its sister for a monopolist opportunity in a thriving Riverina town.
Named in honour of the English explorer (Charles Sturt: 28 April 1795 – 16 June 1869) who led several expeditions into the heart of the Australian continent, the handsome two-storey pub is built on a 1,341sqm corner block zoned Business.
The spacious public bar is joined by a gaming room with 12 EGMs but no smoking solution, a popular bistro, 12 upstairs accommodation rooms and a bottleshop.
Narrandera, around 540 kilometres south-west of Sydney, is a rural gateway to the Riverina known for its orchards and rice paddies, and more recently including solar farms. It is home to just over 6,000 residents (2016 CENSUS).
While there were once five pubs in town, only two remain, owned by old-time mates Kevin Absolom and Gary Tuckett.
The Charles Sturt is an icon of the area where every kid that comes of age comes to celebrate. For 78 years it was operated by the Duncan family and despite its actual name being the Mail Hotel, it was then and is still known as the Duncan’s Hotel – “Dunc’s” to the true locals.
Sometime in the 50s the original pub burned down, but Tooths rebuilt it, changing the (official) name from the Mail to the Charles Sturt. After years as operator and licensee, Jack Duncan bought it from Tooths brewery. Over time his sons came through the business; Paul Duncan, now retired, still lives next door and is in nearly every day.
Approaching 21 years ago Kevin Absolom and Gary Tuckett bought the Murrumbidgee Hotel – the ‘Bidgee’ – on the other side of town. After a few years the opportunity came up for Kevin to take on the Charles Sturt, and the pair have owned Narrandera’s hospitality since.
The two pubs have remarkably similar attributes, each boasting 12 rooms and 12 machines without smoking solution.
After nearly 21 years at the helm, Tuckett made the decision to sell the Bidgee earlier this year, just prior to the pandemic. Recognising the wisdom, Kevin has determined to partner him there also.
“We’ve had a fair reign,” he says. “After 18 years up here it’s time.
“I’ve got four grandkids already and another two coming, so I’ll have my hands full. Maybe someone can come in and do a better job at the Charles.”
The Bidgee is still looking for a buyer, presenting the unique opportunity for an incoming buyer to ‘own’ the town’s hotel market and gaming. Both pubs reportedly lend themselves to an inexpensive smoking upgrade in the gaming rooms.
“The town looks good. It’s going very well … lots of employment,” says Charlie Fenton of Manenti Quinlan, who is marketing both assets.
Shrugging off any suggestions of the effects of the looming recession, amid escalating real estate sales in the region to city escapees, Fenton says he believes these kinds of establishments are a sound investment.
“This is when pubs really thrive. People go to the pub when life’s tough to forget about the situation they’re in.”
Manenti Quinlan is presenting the freehold going concern of the Charles Sturt Hotel Narrandera with price expectations of $3.4 million.
