Settler’s Tavern West Gosford for sale by HTL Property’s Dan Dragicevich and Blake Edwards.
HTL Property is delighted to announce the sale process for the Settler’s Tavern at West Gosford.
The Vendor, Nick Tindall, purchased the asset in 2016 from industry personality Phil Bernie; and has engaged Dan Dragicevich and Blake Edwards from the market leading national agency.
The Settler’s Tavern operates a bar, bistro, gaming room with 20 gaming machines and a 3am liquor licence across 5021sqm with average weekly gaming revenue of almost $60,000 this financial year.
The Central Coast is experiencing rapid population growth and unprecedented Government infrastructure spending; which includes the $1 billion rail upgrade between Sydney and the Central Coast. The Settler’s Tavern is proximate to the proposed 1a Racecourse Road development, which is under consideration by the NSW Planning Department; and which once completed would see a $115m mixed use development including a 196 room motel.
“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; so commensurate with this rarity, we’re expecting this asset to be keenly sought” advised HTL Property National Director, Dan Dragicevich.
“Excellent trading conditions from hotels right across the state is continuing to underpin the attractive investment fundamentals sought by astute investors” Dragicevich added.
The last pub on the Central Coast to trade was the Coast Hotel at Budgewoi, which was also sold by HTL Property in December last year for $15m.
“Pubs on the Central Coast traditionally sell on slightly softer cap rates than their Sydney Metro counterparts; albeit the Central Coast enjoys many of the same demographic and economic metrics Sydney does, and with population growth north is fast becoming an extension of Greater Sydney” concluded HTL Property Director, Blake Edwards.
The Settler’s Tavern enjoys an exclusive trading catchment in West Gosford and the surrounding suburbs, with the LGA itself exhibiting a very low percentage of hotels per capita.
The Settler’s Tavern is being exclusively sold by HTL via an on market EOI sale program closing 16 November 2022; if not sold prior.
For more information contact the agents via the contact form below.
Keep the conversation going with The Hotel Conversation via our free newsletter
Keep the conversation going with PubCon via our free newsletter