Cobar’s thriving Empire Hotel is being sold through receivers, as part of the consolidation of business interests of a private owner.
The pub resides on a generous 3,127sqm lot with dual street frontage. It is configured for single bar operation, aiding operational efficiencies, and holds an enviable 2am late-trading licence.
It provides a large public bar, bistro and commercial kitchen, undercover beer garden, and the only drive-through bottleshop in town.
Seeing weekly sales exceeding $47k (ex-GST) across departments, led by foodservice (37 per cent), it is a high cash-flow business, providing immediate income for an incoming operator.
Liquidator Andrew Barnden of Rodgers Reidy has been appointed, complying with a broader consolidation mandate that includes the hotel, as part of a portfolio of assets and business interests held by the vendor.
Sale of the Hotel is anticipated to fetch up to $1.5 million.
Cobar is in central western New South Wales heartland, around 700 kilometres north-west of Sydney. It records local population of around 4k residents, and an economy based in mining and agriculture, with an increasingly active role in tourism.
“The existing levels of revenue and ability to immediately capitalise on this income from inception will be sure to pique market interest,” suggests JLL Hotel’s Edward Browne, marketing the asset with colleague Greg Jeloudev.
Sale of the freehold going concern interest in the Empire Hotel Cobar is via Expressions of Interest, closing Thursday, 2 May.
