The ambitious Duxton Pubs Group has added another in its quest for national prominence, buying the Port Broughton Hotel, north of Adelaide.
Built in 1910, the classic Victorian Hotel is centred around a large island style bar, with TAB, commercial kitchen and bistro with direct access to the bar and outside area, gaming room with nine machines, beer garden with potted plants and paved patio with views over the foreshore, jetty and bay.
There are eight pub-style rooms with shared amenities on the first floor plus a two-bedroom owner’s residence, and a drive-through bottleshop (branded Thirsty Camel).
Lyndon and Jacqui Hall have owned the asset with Ron and Heather Dunstan for around 30 years.
For the past four years the operators have been lessees Brett Ireland and Katrina Rhodes.
The restapled freehold and business has been sold to Duxton Pubs, being prominent hotel identities Brett Matthews, Martin Palmer and Ed Peter.
Duxton reports being “bullish” on the Hotel, with a lot of confidence in the town and region and its proximity to Adelaide. Infrastructure works are underway in nearby Fisherman’s Bay that the group feel will be a catalyst for further investment and visitation to the region
There are plans for a modest refurbishment and upgrade in the new year, sympathetic with the history and locality of the Hotel and town, and minor changes to the menu.
The group’s thesis is to invest for the long-term in hotels with good fundamentals, in growth areas.
Port Broughton brings the collection to 12, while more are said to be already under due diligence.
Duxton’s longer-term ambition is to be a Top 3 pub owner in Australia, behind the heavily-backed ALH and AVC. This is ahead of a possible IPO on the ASX as a potential exit option, within four years.
Sale price on the Hotel was not disclosed, transacted through John Langford of Langfords Hotel Brokers.
The precinct is renowned for its fishing and boating and protected beach, and inundated with holiday-makers and tourists during summer.
“Port Broughton is considered one of South Australians most popular holiday destinations only two hours from Adelaide on upper Yorke Peninsula of South Australia,” explains Langford.
