Sydney metro prime suburban leasehold tavern for sale
Leading national pub brokerage firm HTL Property has been exclusively appointed to offer the Bangor Tavern leasehold to market, with Blake Edwards and Andrew Jolliffe engaged to execute the sale campaign.
“This outstanding and very popular tavern enjoys a prominent position immediately adjacent to the active Bangor Shopping Centre in a residential catchment of around 32,000 residents; with no clear competition from any other immediate pubs or taverns with gaming. This is therefore arguably the metro version of being a ‘one pub town’” commented HTL Property Director, Blake Edwards.
“In addition, it enjoys very high pedestrian activity from the 180* car parks it shares with the IGA anchored shopping centre” Edwards continued.
The Bangor Tavern features a bar, bistro, beer garden and gaming room with 15 GMEs in a smoking solution. During the FY24 it enjoyed an average weekly revenues of almost $110,000 per week; with strong contributions from all departments. There are over 21 years remaining on the current lease terms including options, and the rent is sustainable.
“Considering the lack of proximate competition, the size of the catchment and the considerable land holding promoted by the shopping centre, there exists the potential to purchase the shopping centre and either redevelop the site or increase the size of the pub component if strategically desirable” concluded HTL Property Managing Director, Andrew Jolliffe.
The Bangor Tavern leasehold business is being sold via an on-market expression of interest campaign closing the 28th of November 2024 at 12pm; if not sold prior.
HTL, 4th November 2024
