Amid increasing activity in the sector, private owners have listed their entry level pub in the northern rivers region, Lismore’s Hotel Metropole.
The pub resides on an expansive 1,590sqm site on arterial Keen Street, providing public bar, commercial kitchen and bistro with several dining areas, large beer garden and a huge, underutilised car park covering 800sqm.
There are 11 pub-style accommodation rooms, all newly leased (2+1 year) to Casino Food Co-Op, returning $130k per annum.
The Hotel cites weekly revenue of around $54k, with immediate upside to be realised via events and full use of its 3am licence.
Favourably zoned E2, Commercial Centre, and holding a 20.5-metre height limit, the under-cooked site is prime for subdivision or development (STCA).
Found around 45 minutes’ drive south-west of Byron Bay, or two hours from the Gold Coast, Lismore is a regional centre, with population north of 40k residents, and 16k students courtesy of Southern Cross University.
The private family owners have opted to sell the business in order to focus on other core interests, providing opportunity for a hands-on operator.
It is likely to fetch sale price north of $2 million.
A sale campaign is being conducted by HTL Property’s Ben Kennedy and Xavier Plunkett, who suggest favourable potential beyond what is already a strong food and beverage business.
“The newly-formed lease provides an incoming purchaser excellent security given the accommodation will benefit from 100 per cent occupancy for the coming years,” suggests Kennedy.
The freehold going concern of Hotel Metropole is being sold via Expression of Interest, closing Thursday, 30 May.
