New England Pub Company snares outback hotel
Ben Ryan and Mark Neilson’s New England Pub Company has snapped up The Empire Hotel at Cobar, between Dubbo and Broken Hill.
The deal for 6 Barton Street, with a 2am trading licence was with liquidator Rodgers Reidy, which listed the asset 15 months ago with $1.5 million price hopes – later reduced to $800,000-900,000.
Weekly sales when it was first offered exceeded $47,000 per week led by food – contributing 37pc.
The property also includes the town’s only drive in bottle shop.
JLL’s Greg Jeloudev and Edward Browne were the agents.
Rodgers Reidy is consolidating a real estate and business interest portfolio for the vendor.
A New South Wales outback town, with a local population of about 4000 – but a mining and agriculture economy which brings in a workforce, Cobar is about 700 kilometres north west of Sydney.
Earlier this week we reported the freehold going concern of Wagga Wagga’s Mill Hotel sold to a local operator while the Downie family shed the Royal Hotel freehold in Queensland’s Hughenden, 380km from Townsville.
Subscribe to our newsletter at the bottom of this page.
