The Shamrock Hotel in Toowoomba is back on the market, offering considerable upside as Queensland pubs wind up to a return to normal trade.
Occupying a sizeable 3,253sqm block on Ruthven Street in the heart of town, the Hotel counts four bars, restaurant dining, a function space and conference room, TAB, gaming room with 39 gaming machines (approval for 45), 35 motel-style accommodation rooms and a manager’s quarters on the first floor.
Ongoing upgrades by the owners of the past few years have brought an array of new widescreen TVs and a new, second TAB ‘U-Bet’ facility into the sports bar.
The private owners have engaged Geoff Percy of Ray White Commercial Toowoomba, who suggests an array of potential improvements to increase returns in the business, including a timely refurbishment of the bar and retouches to the rooms, and exploring options around the lack of bottleshop or satellite (detached) bottleshops.
Originally going to auction, post-COVID the pub has been listed for $6.75 million, which Percy says speaks to the motivation of the vendor.
“He wants to sell and move on with his family.”
The asset has already attracted interstate interest, notably from NSW and Victoria, boasting both strong historic trade and potential.
“The interest is still there, although the border closures and lack of certainty of the future has caused some sales to stall,” reports Percy.
“The public are looking forward to getting back to their local hotels and the operators are looking for those who wish to get out and hotels that have value add.”
The freehold going concern of the Shamrock Hotel is being sold via Private Treaty.
