SHAMROCK HOTEL LOOKING FOR LUCK

In On the Market by Clyde MooneyLeave a Comment

Click here to share this article with a friend

After more than half a century and several generations ownership, the Leary family has listed its Shamrock Hotel in Temora with plenty of western NSW sunshine.

Temora is a town of around 5,000 souls, around 400 kilometres west of Sydney, in a strong agricultural community.

The Shamrock sits on a 1,242sqm block on main road Hoskins Street, offering a public bar, large all-weather beer garden, commercial kitchen, and gaming room with nine PMEs. It also counts 11 pub-style accommodation rooms and seven ensuited motel-style rooms in a separate freestanding building.

It has seen ongoing capex, in the region of $200,000 spent in 2017/18, with ownership shared between the six Leary decedents, and a leaseholder managing operations for the past few decades.

“It’s been in the family for 70 years,” reports Rob Leary. “My grandfather first had it and ran it, then dad, then we leased it in 1990.

“I have five siblings … it’s just time to sell.”

The business reports north of $600k revenue for FY18, with 39.5 per cent of that from gaming, but possesses no TITO and aging hardware. It is one of just two pubs in the area with gaming, the nearby Royal Hotel holding just three machines.

The Leary family has listed the somewhat beleaguered business as a freehold going concern with HTL Property’s Xavier Plunkett and Blake Edwards, with the tenant willing to provide vacant possession upon sale, which is likely to fetch in the region of $2 million.

“There is definitely upside that could come from a hands-on owner-operator, as well as an improved gaming offering, use of online booking portals and operating the bistro in-house,” suggests Plunkett.

The freehold going concern of the Shamrock Hotel is being offered via Private Treaty.

Leave a Comment

Click here to share this article with a friend

Share this Post:

 

Keep up to date.
Get our FREE newsletter:

 

Current Stories: