A private family are offering their Grand Hotel in a rare opportunity in coastal Kiama – recently voted Australia’s best town.
Built 1891, the three-storey Victorian Grand occupies 486sqm on a prominent corner of Manning Street, just a few blocks from the beach, and proximate to local attractions such as the famous Kiama Blowhole.
Embracing its heritage charm, at street level the pub offers a public bar and TAB area, gaming room with 15 machines and smoking solution, with capacity for 18, restaurant plus additional dining room used for hosting functions and events.
On the upper two levels there are 20 traditional accommodation rooms in operation, well suited to rejuvenation.
The owners have held the pub for the past two decades, along with considerable other property interests, and see their best option as to divest the hospitality asset so that a new owner might capitalise on its opportunity in the historic coastal precinct.
Found around 90 minutes’ drive south of Sydney, Kiama recently trumped more than 750 other eligible communities to be voted “Best Small Town” in Australia by Bernard Salt, who stated “Kiama has above average entrepreneurship, below average unemployment, higher than average income”.
The Grand enjoys limited local competition as one of only two pubs in town, and its accommodation is touted as clear upside in what is an under-supplied market.
It currently generates circa $3 million in annual revenue, and pundits suggest it is likely to fetch north of $10 million.
Sale of the freehold going concern is reportedly the first of its kind in Kiama in over 20 years, and a campaign is being managed by Tourism Property’s Matt Davidson.
“Investing in the Grand Hotel Kiama offers a unique opportunity to own a piece of local history and leverage the thriving tourism industry of the NSW South Coast.”
Offers on the Grand Hotel close Thursday, 29 June.
