The emblematic Grand View Hotel of Wentworth Falls is being sold by its passive investor owner, freshly renovated and poised to welcome sightseers to the region.
The majestic Georgian-style Hotel was built in 1883, and commanding an elevated position on a 4,074sqm corner block passed by thousands every hour, has become a Blue Mountains landmark.
A grand entrance leads into a premise rich with historic charm and period features that recently enjoyed a $1.5 million refurbishment.
It provides an efficient, central traditional bar and lounge, large recently upgraded commercial kitchen, bistro seating with indoor and outdoor dining areas, Keno and TAB lounge and gaming with nine machines, large function spaces and a standalone bottleshop.
There are three accommodation rooms on ground level, and another sixteen upstairs – all newly-renovated, with ensuites, A/C and modern appliances, commanding $200-250 per night.
The pub is currently turning over around $60k per week, but now the renovations are complete there is notable potential to capitalise on the honeymoon.
Wentworth Falls is an hour from Sydney and enjoys its share of the 4.4 million-plus visitors to the Blue Mountains each year, contributing to the 22k+ vehicles passing through the precinct each day on the Great Western Highway.
The Grand overlooks the charming, tree-lined Wentworth Falls village, ranging eateries, galleries and specialty shops largely for those that come to the area to enjoy its renowned walks and lookouts.
Wentworth Falls and surrounding towns, such as Katoomba, Leura and Lawson, host a busy calendar of events throughout the year, including the Grand View’s own local makers market, held on the first Sunday of each month.
The hotel was purchased in 2018 by a passive investor, from long-time owner Ben Tufrey, and its uncapitalised capital works represent “a unique opportunity” for the right operator.
“Having been run entirely under management, there’s plenty of scope to streamline and optimise across the business,” suggests Leonard Bongiovanni of Manenti Quinlan & Associates, marketing the pub with colleague Rob Camer.
“A savvy operator could find significant upside in everything from the bistro to the bottleshop to how the function spaces are managed.”
While the value of gaming entitlements is holding if not poised to rise further, and the NSW Valuer General puts the pub’s land value at a little over $3 million, no price guidance has been offered for the asset.
The freehold going concern of the Grand View Hotel in Wentworth Falls is being sold via Expressions of Interest, closing Thursday, 1 June.
