A Sydney syndicate has won the bid for the massive, big-potential Tahmoor Inn Hotel, owned by the extended Ryan family for more than three decades.
Located in south-western Sydney’s Macarthur Region, the single level, tavern style operation occupies an impressive 2.9ha block fronting the Old Hume Highway, and opposite the recently constructed Tahmoor Business Park with anchor tenants McDonalds and BP.
The Tavern enjoys an exclusive trading catchment, with no other licensed pub or club in Tahmoor, providing public bar, bistro, gaming room with 24 entitlements, function room, 14 self-contained motel units, plus both a 2- and 3-bedroom manager’s residence.
It has been in the hands of Jennifer Ryan and Trish Murray (nee Ryan) and family for over 36 years, but the sisters determined now is the time to look at retirement.
Reporting weekly turnover of around $125k, the Tavern presents clear upside for an incoming operator through capex and operational improvements, but situated in a part of Sydney quickly being consumed by encroaching urban development, seeing consistent population growth, its longer-term prospect is in better utilisation of the surplus land.
The Wilton master planned residential and mixed-use redevelopment is slated to deliver more than 15K new homes over the next 20 years and a new Town Centre – work on which began in September. The Wilton Growth Area will focus on affordable housing to meet the needs of the growing area, and generate over 11K permanent jobs in retail, education, healthcare and social assistance, and public administration.
NSW State Planning projects Wilton New Town will be the size of Port Macquarie once completed, over the next 20 to 30 years.
The Tavern freehold going concern has reportedly been bought by “a Sydney-based hotel syndicate” at a price reported to be close to $40 million.
Selling agents Blake Edwards and Dan Dragicevich of HTL Property relay transaction prices remain strong “and demand consistent” – as seen in the campaign generating six offers to purchase the Tahmoor Inn, which the agency suggests was one of its most contested sales this year.
“A continuation of the strong trading conditions across the national hotel landscape, and a shortage of pubs for sale, is driving market confidence and depth,” offered Dragicevich.
