A rare Gosford LGA pub has come to market, as Laundy group partner Nick Tindall offers up the thriving Settler’s Tavern, on the Central Coast.
Set on an large, elevated 5,021sqm lot in West Gosford, Settler’s holds a prized 3am liquor licence, operating a bar, bistro, and gaming room with 20 machines. It is an efficient, tavern-stye operation without entertainment or the need for security.
The gaming has seen a recent development, and is still trading up into the new space, but the covered beer garden outdoor area, sporting impressive views of the region, is due for a makeover.
The region continues to see rapid population growth, bringing unprecedented Government infrastructure spending, such as the $1 billion rail upgrade between Sydney and the Central Coast.
Settler’s is proximate to the proposed 1a Racecourse Road development and almost certainly holds future development potential, given Gosford “is going to look very different” in the near future, says Tindall.
“It’s been incredibly reliable, in terms of year-on-year performance, and the best cashflow you could ask for at a hotel.
“That sort of hotel gives you options. It’s provided a lot of opportunities for us in its tenure.”
The partnership between Arthur Laundy and son-in-law Nick Tindall has to date come to count the Swansea Hotel, divested late 2020, the Oaks Hotel at The Oaks, and Settler’s, purchased in 2016 in conjunction with a first-time pub owner partner, who is now somewhat eager to realise the investment.
Gosford LGA has a very low percentage of hotels per capita, and The Tavern actually enjoys an exclusive trading catchment in West Gosford and surrounding suburbs.
Sales literature reports total revenue north of $100k, with a strong gaming component.
No price expectation was offered, but agents are expecting an accordant level of interest in the opportunity.
“While pubs on the Central Coast do sell from time to time, they’re rarely available on market at a level of quality such as Settlers,” notes HTL Property’s Dan Dragicevich, marketing the Tavern with colleague Blake Edwards. “Commensurate with this rarity, we’re expecting this asset to be keenly sought.”
The freehold going concern of Settler’s Tavern is being sold through an Expressions of Interest campaign, closing 16 November.
