20 Marshall, Cobar, New South Wales
Leasehold of the Iconic Great Western Hotel in Cobar
SOLD
Business Description
*Only pub in town with Poker Machines. In addition it has 20 motel units.
*The Pokies have shown a profit after tax of $ 315K - 2019, $400K - 2020 and $322K for 9 months of 2021.
*Turnover for the last 3 financial years $2,174,696 - 2018, $2,288,435 - 2019, $2,146,416 - 2020
* 3 year lease. A longer lease is negotiable. Rent $3500 + GST per week.
*The hotel itself has two bars, beer garden, restaurant and a cafe. Their meals are renowned for being equal to the best in town.
*The Landlord is prepared to provide funding for upgrading and expansion.
*Landlord is also prepared to add a further 2 poker machines for the appropriate tenant.
* A Bond of $100,000 in addition to the Leasehold price of $100,000 will be applicable.
Business Summary
Key Investment Insights
1. The Great Western Hotel in Cobar is an iconic establishment with a strong reputation for its food and beverage offerings.
2. It is the only pub in town with poker machines, making it a popular destination for locals and tourists alike.
3. The poker machines have consistently shown a significant profit over the past three years, indicating a strong revenue stream for the business.
4. The hotel also has 20 motel units, providing additional income potential for the buyer.
5. The turnover for the past three financial years has been steady, indicating a stable and well-established business.
6. The lease is for a period of 3 years, with the possibility of negotiating a longer lease.
7. The rent for the property is $3500 + GST per week, which is reasonable for a business of this size and profitability.
8. The landlord is willing to provide funding for upgrades and expansion, allowing for potential growth and improvement of the business.
9. There is also the opportunity for the landlord to add two more poker machines, further increasing the potential revenue for the business.
10. A bond of $100,000 in addition to the leasehold price of $100,000 will be required, indicating the seriousness and value of the business.
