The brothers Watson have listed their Commercial Hotel in Port Adelaide to focus on their other fast-growing business.
Nick and Alex Watson leveraged their experience running an Adelaide nightclub to buy the operation of the Commercial in 2016. Separately since then, another business has seen impressive growth and interrupted plans for the pub.
“They founded American Motors, importing and selling only American-made vehicles,” explains South Australian pub specialist John Langford, managing the campaign. “That business has taken off and they’re not able to dedicate as much time to the pub.”
The Hotel counts a sports bar with TAB and second bar servicing the bistro and outdoor area, commercial kitchen, gaming room with ten machines, and multipurpose function room on the first floor with dedicated bar and weatherproof balcony.
Its high-exposure location near Queens Wharf is central to new residential and commercial projects, notably the large-scale Starfish development, bringing 650 units and mixed business, slated to be completed in the new few years and within walking distance of the Commercial.
Langford suggests the business would suit another first-time buyer or a growing portfolio, aided by a compact, labour efficient floorplan.
The Watsons hold a lease of 25 years including options, with rent at market rates.
Sale of the business interest is through Langfords Hotel Brokers, by Private Treaty. Price negotiations start at $750k but “All realistic offers will be considered”.
