Michael Dixon’s Athena Group has listed its only operation in New South Wales, the Court House Hotel in Murwillumbah.
The two-storey pub occupies an 898sqm lot, providing public bar, bistro, gaming with 21 EGMs, beer garden and 21 accommodation rooms.
Dixon’s Athena Group purchased the business in August 2021 from Brisbane-based investors Andrew Scrivenor and Tom Bennett, starting a new triple-net lease on an initial 15 years, followed by four further 10-year options.
The leasehold going concern has a minimum of 13 years remaining and reports a balanced mix of revenue across bar, gaming, food and accommodation.
Marketing literature notes its 3am liquor licence is not being fully utilised.
It also comes holding a recently approved DA to relocate the gaming room to the rear to accommodate a full smoking solution, up from the current arrangement of only five machines in smoking.
The Hotel is one of only two pubs in town with gaming, and the only one on the CBD side of the river.
Part of the northern NSW art precinct and lifestyle region, Murwillumbah is a strong regional centre around 30 kilometres south of the Gold Coast Airport or 130 from the Brisbane CBD, with local population of more than 9k people.
A sale campaign via Private Treaty is being conducted by HTL Property’s Brent McCarthy and Glenn Price.
“The asset is likely to attract a combination of both NSW and Queensland-based hotel operators, given that pricing expectation levels are representative of the ‘entry point’ for a NSW gaming asset,” suggests McCarthy.
