Simon Paterson’s Town Tavern and development at Blacktown have been put to market by receivers, set to tempt operators and those willing to take a Top200 pub to the next level.
The Town is a prominent, high-performing venue, adjacent to Blacktown train station, occupying a 308sqm tenancy within Westpoint Shopping Centre, sporting an efficient layout and operation. It holds a Midnight licence, with 6am early approval and enjoys limited competition in the area.
Holding 30 EGM entitlements in one of Sydney’s strongest gaming LGAs, it is consistently in the Liquor & Gaming Top200, currently ranked #174.
Significantly, the Tavern tenant owns both the hotel and gaming licences.
Established in the 1880s as the Royal Hotel, the original pub was demolished and rebuilt in 1914, and again in 1936, when it was renamed the Robin Head. Almost fifty years later, the heritage-listed building was demolished in the middle of a night in 1984. It was later replaced by the current structure.
Paterson was looking to leverage the successful operation into a new freehold arrangement, and in recent years purchased eight nearby lots at 34-48 Flushcombe Rd, totalling 1,809sqm.
He has since secured an approved DA to demolish the existing structures on the lots and build a 15-storey mixed-use development, comprising a ground level pub, a first floor function centre, and 13 residential levels consisting of 139 apartments, plus basement parking.
Blacktown is the largest council in NSW, and its CBD is becoming a developmental focal point of Western Sydney.
Receivers and managers Ankura have been appointed on the Town and properties, engaging HTL Property’s Andrew Jolliffe and Dan Dragicevich, in conjunction with Colliers’ Matthew Meynell and Jordan McConnell.
The Tavern has around 2.5 years remaining on its current lease, with no options.
On offer is the existing pub and the DA-approved properties – separately or in one line – making for flexible options for a potential buyer looking to go ahead with the greenfield or relocate to a suitable brownfield site.
The assets are being sold via Expressions of interest, closing Wednesday, 5 June.
