NEW LEASE FOR COWRA’S ORIGINAL PUB

In On the Market by Clyde Mooney

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A new lease for the historic Australian Hotel in Cowra has come to market, offering the incoming operator a thriving country pub with undeniable history.

The Australian resides on a sizable block overlooking the main arterial road into Cowra – a regional centre of around 10,000 residents, 300 kilometres west of Sydney.

The pub offers a welcoming bar, strong drive-through bottleshop, bistro, and gaming room with eight EGMs – the highest number in town. It has been recently painted inside and out and the ground floor bathrooms renovated, but the upstairs accommodation is not in use.

Weekly turnover is reported at $58k.

The current lease has just expired and the passive freehold owners have determined to offer a premium-free lease, engaging Manenti Quinlan’s Leonard Bongiovanni and Gilchrist Business Brokers’ Dan Maley to market the opportunity, suggesting it needs a “new leader to realise its potential”.

The Australian Hotel as it is seen today was built in 1909, but it is the site of Cowra’s first licensed inn, originally built 1846 and operated consistently ever since.

NSW Heritage states the Federation building is largely intact, and presents “an historical reminder of the beginnings of the hospitality industry in Cowra”.

The pub’s location and attributes lend credence to considerable blue sky, according to agents.

“While turnover is good, there is opportunity to greatly improve the current offering, including activating the upper level accommodation to make this a great all-rounder,” suggests Bongiovanni.