For the first time in more than two decades, the privately-owned Parkview Hotel in Orange is for sale.
The handsome two-storey pub is the highlight of a prominent corner of main drag Summer Street, in the heart of Orange.
Set on almost 1,500sqm, it boasts the only outdoor beer garden in the Orange CBD, gaming room with 12 machines, and 14 ensuited hotel rooms, enjoying a reported occupancy rate of more than 80 per cent.
It also holds a late-trading 3am licence, which is currently “underutilised”.
Orange is one of the key regional centres of NSW, around 250 kilometres east and slightly north of Sydney. It counted local population greater than 40k people at the 2016 Census, but has experienced major growth in recent years, in line with the boom in domestic tourism.
After more than 20 years of operation, the private family owners have appointed JLL Hotels’ Kate MacDonald, Ben McDonald and Greg Jeloudev to manage the sale, who suggest interest will be high for a public campaign in the precinct.
“The vast majority of recent pub transactions in Orange have been negotiated off-market, leading to disappointment from a variety of investors vying for a chance to secure an asset in this AAA regional location,” suggests MacDonald.
“‘The Parky’, as it’s affectionally known, ticks all the boxes for operators looking to target food, beverage, gaming and accommodation dollars.”
The freehold going concern of the Parkview Hotel is for sale via Expressions of Interest, closing Tuesday, 7 June.
