The pride of Australia’s country music capital, the Tamworth Hotel, has been sent to market by a Sydney-based property investor.
Built in 1936 directly opposite Tamworth Train Station, the attractive two-storey Art Deco pub keeps a loyal following, striving to be “the finest country pub in the district” and earning a prominent place in the New England hospitality landscape.
Known locally as ‘The Tamworth’ it enjoys an efficient single-bar operation and has earned a strong reputation for food and beverage. It also offers a gaming room with seven machines (entitlements), beer garden with outdoor bar and children’s playground, drive-through bottleshop with dual street access and a surrounding car park.
On the upper level there are 14 well-appointed accommodation rooms and a large manager’s residence.
It holds a late-trading 2am licence and reports weekly revenue exceeding $115k.
Tamworth is a regional hub in the New England region of northern NSW with local population of more than 60k people, forecast to see 24 per cent growth in the next 15 years, bolstered by thriving local industry in beef, wool and agriculture.
Ranked amongst the top five inland towns in Australia, it is internationally famous for the Tamworth Country Music Festival, attracting 300k visitors for the 10-day celebration. This year’s Festival saw The Tamworth turn over more than $500k in beverage sales in less than two weeks.
The Hotel has seen recent investment in sound proofing for live music, and renovation of the accommodation’s shared bathroom facilities, but scope remains for further modernisation of the rooms, or activation of underutilised space for functions.
The business, operated under management, would benefit from a hands-on operator.
Its large, 3,219sqm site also lends itself to future development potential (STCA).
Vendor on the sale is Sydney-based Daniel Whitten, who also owns the Robin Hood Hotel in Charring Cross.
He has held The Tamworth for around 10 years, and is divesting now as part of portfolio consolidation.
Sources suggest the New England pub will likely fetch sale price around $15 million.
An Expressions of Interest sale campaign on the rare Tamworth asset is being conducted by JLL Hotels’ Greg Jeloudev, Kate MacDonald and Edward Browne, closing Tuesday, 24 March.
“The Tamworth represents the first hotel offered for public sale in the LGA for over a decade, demonstrating the tightly held nature and desirability of this regional stronghold,” says Jeloudev.
