Two of Cootamundra’s more prominent hospitality businesses have been listed for sale in the past week, with agents pointing to strong demand in the tourism sector.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Well-reviewed pub The Globe Hotel was listed for sale for $380,000, apparently on a private or by-owner basis, late last month.
The Bradman Motor Inn was again put up for sale at about the same time as a “circa 1970s full size motel business, offering 20 guest units, a full size proprietor’s or manager’s residence in an attractive country town”.
The asking price was $650,000 freehold.
Peter Campbell Real Estate offered the motel and the agent principal Peter Campbell said the Bradman Motor Inn’s current owner was looking to sell the business due to a planned retirement.
“It’s the first (accommodation) as you hit town going north, which is an advantage,” Mr Campbell said.
“There’s name recognition too; It’s like being the Ned Kelly motel in Glenrowan.”
The sales listing for the Globe Hotel boasted of a location in the “centre of vibrant regional centre of Cootamundra” with a “bar and large courtyard, 50-seat dining room, 18 rooms”.
The owners declined to comment.
“Solid returns for owner operator,” the listing stated.
“Opportunity to improve with fresh management and renovation. Bar recently painted.”
The building, business and equipment were being offered in a single sale on a ‘walk in, walk out’ basis.
Mr Campbell said the real estate and businesses in hospitality sector were seeing a lot of interest.
“At the moment for us, as brokers, more than half the inquiries we get are from hospitality businesses,” he said.
“The thing with hospitality businesses, whether they’re a hotel or motel, is that you have got a home for the owner as well compared to a newsagent or cafe.
“That’s quite an advantage. And with a motel, you don’t have to entertain the guests.”