The freehold going concern of the resplendent Grand Hotel in Bega is being sold via Private Treaty, as the long-time owner looks to the ‘next opportunity’.
The Hotel is a two-storey blonde brick structure built in the Art Deco style on a prominent 1,555sqm corner, a stone’s throw from major retailers.
It incorporates an efficient single bar operation holding late trading 3am licence, gaming room with 12 (Band 2) machine entitlements, commercial kitchen, and attractive beer garden with enclosed function area.
Upstairs there are 16 accommodation rooms with ensuites, plus a manager’s flat. There is ample onsite parking, and undercover and storage areas.
Bega local Peter Turner is selling the pub after roughly 15 years as owner-operator. Looking to new opportunities, he is ready to “hand the keys over to the next custodian” of the Grand.
Sales literature cites consistent revenue, averaging around $35K weekly over the past few years.
There is clear upside in a new operator taking back operation of the kitchen, which is currently leased casually as a Chinese restaurant.
The business also stands to benefit from a ‘general cosmetic uplift’ – particularly the under-utilised accommodation rooms, generating only nine per cent of revenue.
It’s also suggested the operation would benefit from a “hands-on approach” and greater use of the late trading licence.
Bega is a city of around 36K residents, found in the south-eastern corner of coastal NSW, around 400 kilometres south of Sydney. It is the commercial hub for the far south region, characterised by strong agriculture, health care and construction industries, and home to the internationally renowned Bega Cheese factory. The population is forecast to grow more than 10 per cent by 2036.
Sale of the Grand is through JLL Hotels’ Greg Jeloudev and Edward Browne, looking to fetch $5.6 million.
“Hotel opportunities on the NSW south coast continue to be rare with assets typically held by long-term owners,” notes Jeloudev.
“The Grand Hotel enables market participants the opportunity to acquire an enviable hotel asset boasting all the business attributes and revenue levers needed for a successful hotel operation.”
