After a quarter-century of local consolidation, the Murray family is selling up its portfolio including the Great Southern Hotel, in the south coast town of Eden.
The family bought into Eden in 1984. The handsome two-storey Great Southern (GSH) enjoys a commanding position on main road Imlay St, overlooking Calle Calle Bay at the southern end of Aslings Beach.
The pub is the only hotel in the growing tourist town and offers full facilities including 15 EGMs, with six in a designated smoking solution.
Since coming to Eden the Murrays have accumulated the majority of the liquor sales opportunities in town, now also counting Drift wharf bar, a commercial ‘backpackers’ building, and Southern Cellars.
Following some recent renovation and capex, the family has opted to divest the businesses in one line, offering rare opportunity for comprehensive market dominance in the tourism-centric town of around 3,000 people.
After initially putting the collection to market late 2019, both the summer bushfires then the pandemic delayed the process. Eyeing some level of normality ahead, the fresh sale campaign has been put in the hands of Tinning & Co.
Marketing literature quotes annual combined revenues exceeding $5.8 million, with a portfolio price circa $5.5 million expected.
“The hotel has continued to grow in business and profit year-on-year,” notes Nick Tinning. “Bar, TAB, Keno, gaming, bistro, bottleshops – it’s all here. This is an extremely rare opportunity.”
As the Murrays look to wind up the estate, Tinning believes there is broad potential in the future of the business.
“A purchaser can use their expertise to take it in any direction. There are exciting new tourism opportunities with the use of Eden Wharf by visiting cruise lines.”
The GSH, backpackers, Drift bar and Southern Cellars are being sold via Expressions of Interest.
