Acquisitive publican Nic Quinn has listed his Australian Hotel in Wingham to focus on other opportunities closer to home.
Wingham is a town in the mid-north coast of New South Wales established in 1844, 10 kilometres west of Taree, counting local population of more than 5k.
The Australian occupies a big 1,884sqm block, providing public bar, bistro, gaming room with 13 machines, 11 pub-style accommodation rooms plus a three-bedroom manager’s unit. It is licensed to trade until 1.30am on Fridays and Saturdays.
There is also a drive through bottleshop, but it is not currently operational.
The Hotel reports average weekly revenue of approximately $70k (Q2-Q3 FY23).
Vendor on the sale is Nic Quinn, based in Port Stephens, 184 kilometres to the north. In 2021 Quinn purchased what was at the time a passive freehold with grand plans for an extensive refurbishment, at the same time as buying the freehold going concern of Taree’s Royal Hotel.
“Our group has been very acquisitive over the past few years, and have stretched ourselves a bit thin operationally,” he says.
“As such, we are selling a couple of non-core assets that would be better suited to a more hands-on operator.”
Amid an acute shortage of comparable on-market opportunities, sources suggest the asset will likely fetch north of $10 million.
A sale campaign is being conducted by HTL Property’s Blake Edwards and Xavier Plunkett, who expect a strong result in light of the Aussie’s attributes of limited competition and a large catchment.
“There is only one pub in Wingham, and about 5,300 residents, which is one of the better pubs per capita ratios in NSW,” notes Edwards.
The freehold going concern of the Australian Hotel in Wingham is being sold via Expression of Interest, closing Wednesday, 17 May.
