The Griffiths family is divesting the large-format Tattersalls Hotel in Goulburn, in the NSW southern tablelands, leaving a balanced business as they head south.
Widely considered the best pub in Goulburn, The Tatts boasts one of the largest trading footprints, on a 2,883sqm site that enjoys dual frontage to both Auburn and Clinton streets.
Built in the 1960s, it holds a 3am liquor licence, incorporating public bar and wagering, bistro, gaming room with 16 machines, extensive outdoor areas – with the biggest beer garden and biggest screen in town – and 11 pub-style accommodation rooms.
Its prominent site is close to an Aldi supermarket, Goulburn Marketplace and the Quest Serviced Apartments.
Despite the family having enjoyed a long tenure, ample blue sky remains in the operation. The SA2 (Red) zoning heralds a level of protection against gaming competitors, and there is underutilised space, including a large portion of the first floor.
E2 Commercial Centre zoning on the site allows for potential future repositioning or redevelopment, permitting 2:1 FSR and height limit of 15 metres.
Goulburn is seen as one of the state’s strongest regional economies, counting almost 30K residents amid forecasts of continued growth.
After 17 years in Goulburn the Griffiths family listed the asset, having recently relocated to Albury for both “business and lifestyle reasons”.
“Tattersalls has been a fantastic business for our family,” says Sean Griffiths.
“It’s well-positioned for an incoming operator seeking immediate cash flow, with minimal capital expenditure required.”
The family previously kicked the tyres, in 2023, at a time when interest rates were rising regularly and investor confidence was suffering.
Substantial refurbishment has been done recently, across both front- and back-of-house, and the Hotel records annual revenue of more than $5 million, producing EBITDAR of $1.2 million, or 24 per cent.
This is bolstered by Goulburn’s limited options; the six hotels are held by only three owners, with Griffiths having sold his Empire and Southern Railway to Public Hospitality Group.
Listing The Tatts comes now at a time when investor confidence is returning and market sentiment shifting, largely due to the easing of interest rates, prompting both higher transaction volumes and value accretion.
It’s expected there will be buyer interest in the Tattersalls at around $11 million.
Sale of the hotel is through HTL Property’s Blake Edwards and Sam Handy, in conjunction with Chris Tinning and Co’s Nick Tinning, via an Expressions of Interest campaign closing Wednesday, 20 August.
“Goulburn boasts one of the best pub-to-population ratios in regional NSW,” notes Handy.
“With strong population growth and continued local consolidation, The Tattersalls offers exceptional fundamentals for buyers.”
