SOUTHERN BELLE HEADS TO MARKET

In On the Market by Clyde MooneyLeave a Comment

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For the first time in 34 years, Goulburn’s handsome Southern Railway Hotel is on the market, offering a diverse business in one of the State’s thriving communities.

Jude Bourne bought the title to the pub in 1985, and following the expiration of the lease took over operations himself in 2003.

Around 200 kilometres south-west of Sydney, Goulburn has only six pubs, with a growing population of almost 30k residents and some of the best macro- investment fundamentals in regional New South Wales.

Built 1872 on 1,531sqm as the Coolavin Hotel, the two-storey Southern is directly across from Goulburn train station and adjacent to a shopping centre anchored by Woolworths and Aldi. 

It is one of the town’s oldest watering holes, providing public bar, bistro, nine gaming entitlements, and 18 accommodation rooms promoted through Pub Rooms.

Figures show weekly revenue north of $44k, and it’s currently ranked #820 on Liquor & Gaming’s list of NSW pubs, behind three other pubs in town.

After sixteen years behind the wheel, Bourne says it’s time for other elements of family.

“This hotel has been a part of our family’s life for almost 34 years, but it’s now time to do a bit more travel and spend some more time with the grandkids.” 

Listing of the Southern with HTL Property directors Sam Handy and Blake Edwards closely follows sale of another Goulburn pub – the Empire Hotel – to a first-time owner-operator from Sydney, reflecting the rising demand for the right regional properties. 

“This demand is also fuelled by the sharp increase in the value of gaming entitlements that has occurred during 2019, and which materially underpin the value of these assets,” notes Edwards.  

Sales this year have seen entitlement prices gain close to 25 per cent, and a figure of $2.6 million is anticipated for the pub.

The Southern Railway Hotel is being sold via Expressions of Interest, closing Thursday, 31 October.

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