Veteran Dubbo publicans Greg and Kellie Pilon and partners are exiting the industry, listing their popular Pastoral Hotel, having sold their only other pub.
The picturesque two-storey Pastoral is one of Dubbo’s most popular venues, built 1886, incorporating a large bar area, gaming room with 18 machines, function room and beer garden on the lower level, and a popular bistro, outdoor balcony and additional bar on the upper level, under a 24-hour licence (Monday to Saturday).
A few years ago, it underwent a full refurbishment, to upgrade its ability to capitalise on busy trading periods.
Until recently, the Pilons also owned Dubbo’s Amaroo Hotel, which has been bought by a local syndicate headed by publican Matt Rauchle, in a deal worth approximately $22.5 million.
This is believed to be a record pub sale price for Dubbo, being for a freehold under long-term lease, returning a yield of around four per cent.
Known locally as the ‘Roo’, the multi-storey Hotel on ~2,000sqm has public bar, bistro, gaming with 27 entitlements, 24 accommodation rooms, and a nightclub.
The freehold sale was managed by HTL Property’s Blake Edwards and Xavier Plunkett, who now bring the Pastoral to market, expected to see sale price approaching $20 million.
“Greg, Kellie and their partners have loved owning and operating two of Dubbo’s best establishments, but want to now focus more of their time on respective families and other interests outside the hotel sector,” offered Edwards.
The freehold going concern of the Pastoral Hotel is being sold via Expressions of Interest, closing Thursday, 18 August.
