Michael Sweeney and family are divesting the popular Narooma Hotel on the stunning NSW Sapphire Coast to focus on their new venture.
The large-format split level brick pub is perched on a 2,032sqm site with dual street frontage, enjoying stunning, never to be built out views over the Wagonga Inlet and Pacific Ocean.
Previously named O’Brien’s Hotel, it is known locally as the “million-dollar view”.
It features a public bar, bistro, gaming room with 12 machines (entitlements) and an expansive north-east facing deck area, above off-street parking, and reports weekly revenue across departments of approximately $87k for the prior 12 months to September.
After years operating in Narooma, around 350 kilometres south of Sydney, in late 2023 the family purchased the Salisbury Hotel in the city’s inner west from veteran Ged Dore.
“The hotel and the township have both been very good to us, and with the increased interest in both the South Coast region and asset class more broadly, we are taking the opportunity to refocus our attention elsewhere,” offers Mathew.
The coastal inlet, sheltered by landmark Bar Rock and stone breakwaters, has attracted more than its fair share of sea-changers, particularly post-COVID.
In recent years that came to include hospitality mogul Justin Hemmes, when Merivale bought Lynch’s Hotel in Narooma.
“The [Narooma] hotel draws from a large local catchment of over 5,000 residents, in addition to year-round demand from tourism visitation, and competes locally with only one other hotel licence,” says HTL Property’s Blake Edwards, marketing the pub with colleague Sam Handy.
The freehold going concern of the Narooma Hotel is to be sold via Expressions of Interest.
