The all-welcoming Clarendon Tavern has been listed for sale, boasting a recent renovation and loyal locals amid further opportunities and an entry-level price tag.
The Clarendon has become a hugely popular neighbourhood watering hole, providing all-comers a big public bar with pool tables, bistro, gaming room, beer garden with covered area and outdoor TVs, a big kids’ play area with arcade machines, and a spacious function area on the upper floor.
There is also the HotRok Bar & Grill, with extensive outdoor seating, and Clarendon Barbershop, sporting trained experts to provide “top-notch hair styling” services.
The Hotel’s gaming operation counts 12 EGMs in a smoking solution with TITO and CRT, currently ranked #573 on the L&G list of NSW pubs. The precinct is designated Band 2, meaning it may be possible to acquire more permits.
Spread across a large 1,959sqm site on Hawkesbury Valley Way – the main arterial road linking Windsor and Richmond – the Clarendon is opposite both the train station and the 270-Ha Richmond Airport, mooted for closure and redevelopment once Badgery’s Creek Airport is operational.
The broader region has been growing at a cracking pace, as part of the North-West Priority Growth Corridor, slated for hundreds of thousands of new residents and already attracting experienced hoteliers such as Dan O’Hara, Ashton Waugh and Peter Wynne.
Ambitious local businessman Luke Ainscough burst into the hotel game when he bought the Clarendon in mid-2018, broadening his investments in property development to include a pub, where he felt he could add value.
True to his word, he quickly executed a $1 million renovation and expansion in line with his vision.
“I’m very family-oriented,” he said. “I’m going to put a kids’ play area in and a barber shop, get the function area better, and just really focus on families.”
In 2020 Ainscough leapt again, with purchase of The Fitzroy in Windsor, and with his first venue now thriving, he determined to list it to focus on other ventures.
The Clarendon reports annual revenues of approximately $3.65 million, and holds a recently approved 2am liquor licence for Friday and Saturday nights. Price expectations on the asset are around $9 million.
“There are seldom, if any, entry-level large-format western Sydney freeholds at this price point – and particularly those that exhibit such strong core investment fundamentals,” suggests HTL Property’s Blake Edwards, marketing the property with colleague Sam Handy.
The pair have chalked up some recent sales in the area, notably the Royal at Richmond to Peter Wynne, RGs at Richmond to Ashton Waugh, and last year De Angelis’ big Bligh Park Tavern for $11.25 million.
The freehold going concern of the Clarendon Tavern is being sold via an Expressions of Interest process, closing midday Thursday, 11 March.
