Long-term owner-operators Billy and Di Metcalf have listed their elegant Station Hotel Motel in Kurri Kurri, as they look to retirement.
The large-format two-storey pub resides on the corner of Coronation Street and main drag Victoria Street. It offers public bar, commercial kitchen and bistro, beer garden, eight pub-style accommodation rooms, function space, gaming room with ten gaming entitlements, and 16 car parks onsite.
There is also a free-standing motel with 17 rooms, and managers residence, on a separate title. The two titles are a combined 2,272sqm.
Kurri Kurri is around thirty kilometres west of Newcastle, close to the heart of the State’s major wine-producing region. It counts over 6,000 residents, and only two pubs in town with gaming. The town is within Cessnock LGA, home to over 76,000 residents.
Billy and Di Metcalf have owned the Station since 2000 and become integral members of the Hunter Valley community. Eyeing retirement, they’ve listed the asset at what’s seen as a key time in the region.
“The competitive landscape for gaming hotels in Cessnock has seen a dramatic shift, with no fewer than ten hotels having divested their PMEs in the past two years,” notes HTL Property’s Xavier Plunkett, marketing the pub with colleague Blake Edwards.
“As a result, larger venues with ten or more poker machine entitlements have seen an uplift in trade as they absorb patronage from the removal of competitor PMEs.”
Beyond its growing position on the Liquor & Gaming list of NSW pubs, and upside in upgrading and possible reconfiguration of the gaming operation, agents note the Station’s strong fundamentals, particularly the high population to hotel ratio and regional barriers to entry.
“Cessnock LGA has some of the best macro fundamentals of any regional locality, with strong population growth forecast in the surrounding housing estates.”
Freehold going concern of the Station Hotel is being offered for sale by Private Treaty.
