One Dubbo Pub Sold at Record Price by HTL, and Another Listed For Sale
Veteran Dubbo publicans and valued HTL Property clients Greg and Kellie Pilon & partners have sold one and listed another of their two Dubbo pubs.
The Pastoral Hotel is being sold via an on market expression of interest campaign closing on the 18th of August 2022.
The freehold going concern hotel is one of the most popular venues in Dubbo, with a large bar area, function room & beer garden on the ground floor; and a popular bistro, outdoor balcony & additional bar on the first floor. The venue also includes 18 very valuable gaming entitlements on a 24 hour licence from Monday to Saturday.
"The Pastoral Hotel operates an enormous underroof area due to a full refurbishment concluded a few years ago;
and with the consequence now being the ability to capitalize upon busy trading periods in order to drive profitability through scale" commented HTL Property Director, Blake Edwards.
Separately, the vendors have sold their only other venue in town, the popular Amaroo Hotel. Known locally as the ‘Roo’, the multi-storey hotel is subject to a long term lease; and has 27 gaming entitlements, 24 accommodation rooms, bar, bistro, and nightclub all perched upon 2,000m2 of commercial property in the city’s main high street.
A local syndicate is behind the purchase, in a deal worth approximately $22.5m, a new record pub sale price for Dubbo.
"Greg, Kellie and their partners have loved owning and operating two of Dubbo's best establishments, but want to now focus more of their time on respective families and other interests outside the hotel sector" concluded HTL Property Director, Blake Edwards.
Both transactions have been managed by HTL Property’s Blake Edwards and Xavier Plunkett.
These announcements follow HTL Property’s record sales of both the Port Macquarie Hotel and Tacking Point Tavern in the past month.
HTL Property, 15th July 2022
