The Moxham’s have listed their underperforming Royal Hotel in the heart of Muswellbrook, as the asset needs some TLC and they look to wind down for a while with the kids.
Located around 120 kilometres north-west of Newcastle, 240 north of Sydney, Muswellbrook is predominantly known for horse breeding, gourmet food, wine production and coal mining, supporting a population of 12,000 residents, six pubs and two power stations.
The Royal sits on a prominent corner of the main drag. It holds 14 accommodation rooms and eight EGMs, only two of which are in a separate ‘smoking solution’, in Band 2, with maximum of 30.
After six years at the helm Alan and Lisa Moxham are relocating to the Central Coast, to be closer to family and take a break before they look to another hospitality venture.
Knowing the pub was getting a little tired, they determined it a good time to sell and let an incoming operator make their mark and realise its upsides.
The gaming operation could benefit immediately from consolidation in a new full-smoking area, and the Hotel’s location lends itself to a new revenue mix through an increased street presence, offering outdoor amenities and dining to attract passing trade.
The “underperforming” Royal has been listed with Manenti Quinlan’s John Manenti, in conjunction with Deane Moore of Moore & Moore Real Estate, with a pull-apart value price of $1.79 million.
“It’s got plenty of blue sky for someone to come in with fresh blood and a bit of enthusiasm and put a bit of capital expenditure back into it,” offers Moore.
The Royal Hotel Muswellbrook is currently taking Expressions of Interest.
