The award-winning Railway Hotel in Parkes has been sold by Bianca Sheridan and Kasie Fergusson to an aspiring local developer.
Sheridan and Fergusson purchased the hotel in 2010. They went about a major renovation and repositioned the pub to focus on foodservice, leading to a string of accolades and reputation as one of the most renowned pub destinations in the central west.
Built 1915, the two-storey Railway sports a traditional veranda on three sides, on a block of over 2,000sqm. It offers public bar, TAB and Keno and gaming with six PMEs, bistro, two commercial kitchens, bar and event space Hart Bar on the first floor, and a comfortable three-bedroom manager’s residence, under a 24-hour licence.
“We are very proud of the venue we have built and all we have achieved,” offer Sheridan and Fergusson.
“We would like to thank everyone that has made our journey possible, all the team members over the years, our loyal customers, our family and the ongoing love and support of the Parkes community. We are excited to have a little break then start afresh and focus on us and our three beautiful kids.”
The pub was put to market late 2020, through a public Expressions of Interest campaign with marketing literature reporting average weekly revenue circa $50k.
The freehold going concern has been bought for north of $3 million by developer Ken Baker, who is understood to be planning projects nearby and has already bought another pub in town.
The sale campaign through JLL Hotels and Moore & Moore Real Estate experienced climatic COVID interruptions, but agents report when discussions resumed the strength of the asset was made abundantly clear.
“Bianca and Kasie have truly created a local gem at the Railway,” says Deane Moore.
“Their undeniable work ethic and ability to listen to the community’s desires for a local hospitality destination has allowed them to successfully divest and move onto the next big adventure for their family.”
