The Gibbons family has divested their well-rounded Panorama Hotel Motel in Bathurst to the ‘famed’ and acclaimed partnership of Harris and Narvo.
The Panorama is set on a high-profile bend in main drag Durham Street, adjacent to the Bathurst Showground. It provides public bar and bistro, gaming with 12 machines and a function space on the lower ground floor, as well as 70 well-appointed motel suites and a swimming pool, an unused manager’s apartment, and ample parking.
It has been held by the Gibbons family for the past 11 years, at times run under management.
Taking the freehold going concern for a reported $25 million is the joint venture of veteran publicans Peter Harris and Gary Narvo, with their wives Jane and Kerry (respectively). In 2024 the couples joined the esteemed ranks of the Australian Hotels Association’s Hall of Fame.
Already under the Harris-Narvo banner is the Hotel Gosford, Banjo Patterson Inn in Jindabyne, and Lakes Hotel at The Entrance.
A comfortable three hours west of Sydney, Bathurst is the eighth largest inland city in NSW and well suited to the group’s goals for strategic expansion.
“We have been searching for another quality accommodation asset for some time to complement what we are doing at Gosford and Banjo Patterson Inn, Jindabyne, specifically targeting regional hubs with promising growth potential,” says Jordan Harris, GM, and son to Peter.
“We started in country pubs, so it’s great to be able to keep investing there and especially in a strong regional city like Bathurst.”
The big-ticket transaction is one of the largest regional pub sales in the past year and was brokered by JLL Hotel’s Kate MacDonald, who notes the recent uptick in investor appetite for quality regional assets, and an ongoing focus on accommodation.
“The increasing demand for pubs with accommodation has also become increasingly evident as owner operators look to diversify their trading mix.”
