Australia’s most famous rodeo pub, the Noonamah Tavern, has hit the market running with a full service hotel and accommodation in a tourism hotspot.
The world famous Tavern is one of the Northern Territory’s most famous hospitality destinations, first established in 1952 with the Noonamah Store.
It resides on a 5,648sqm commercial lot, offering bars, a restaurant, gaming area with 10 machines, leafy beer garden, and bustling drive-through bottleshop.
Included in the sale is the adjacent championship rodeo operation, which is a major drawcard, showing events including bull riding, saddle bronc and bareback.
The complex is situated outside of Darwin, at the gateway to both Litchfield and Kakadu national parks, enjoying an exclusive catchment. It stands to further benefit from an approved 570-lot subdivision 300 metres to the north-east due to begin construction next year, and the recent announcement of another 175 housing lots nearby.
Tony Innes has owned the rodeo Tavern for close to two decades, and has decided it is time to call it a day.
Annual turnover at the Noonamah is reported to be north of $9 million, while immediate upside is noted in the gaming operation, able to increase to 20 machines in the Territory, and resuming control of the kitchen, which is currently leased out.
Noting ALH’s recent purchase of Darwin’s Beachfront Hotel, Innes has listed the asset for sale – at the same time as a 65-site caravan tourist park at the rear of the Tavern, owned by his ex-wife. These are separate, but amicable, campaigns.
“In terms of unique hospitality assets, this is as good as you are likely to find anywhere in Australia,” suggests HTL Property’s Brent McCarthy, marketing the asset.
No price guidance has been offered by the agents, anticipating competitive interest.
“Possessing such diversified scale, being situated only 30 minutes from the Darwin CBD and so prominently in terms of the huge levels of passing trade, we expect interest to come from local Territorians as well as interstate investors looking for a very high quality hospitality and tourism investment,” explained HTL’s Glenn Price.
Freehold going concern of the Noonamah Tavern and Rodeo Complex is being sold via Expressions of Interest, concluding Wednesday, 7 June.
