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 a popular and iconic establishment with a strong reputation for its meals and hospitality.
2. It is the only pub in town with poker machines, making it a highly sought after business opportunity.
3. The poker machines have consistently shown a strong profit, with a significant increase in profits in the last financial year.
4. The hotel has a stable turnover, with a slight decrease in the last financial year but still maintaining a strong revenue.
5. The lease is for 3 years, but there is potential for negotiation for a longer lease.
6. The rent is $3500 + GST per week, which is a reasonable amount for a profitable business.
7. The hotel has multiple revenue streams, including two bars, a beer garden, a restaurant, and a cafe, making it a versatile and profitable business.
8. The landlord is willing to provide funding for upgrades and expansion, showing a commitment to the success of the business.
9. There is potential for further growth with the landlord offering to add two more poker machines for the right tenant.
10. A bond of $100,000 in addition to the leasehold price of $100,000 will be applicable, providing security for the landlord and potential buyer.
