THE freehold of the Soden’s Australia Hotel in Albury will go to auction amid an active run of transaction activity along the east coast for the pubs sector.
Dating back to 1857 and commanding a corner position on Wilson Street in the border town, the two-storey hotel offers dining, a private and semi-private function spaces, sporting lounges and gaming, and ample on-site parking.
The venue’s Stable Bar, a private bar and beer garden, pays tribute to the premises’ stabling of many thoroughbred champions, including 15 Melbourne Cup winners and the legendary Phar Lap in 1930.
The hotel offers long-term investment opportunity with an annual net rental of $276,831 plus GST, outgoings and gaming turnover rent, further underpinned by gaming machine entitlements and land. The purchaser will retain ownership of the hoteliers licence and 16 gaming entitlements with a value of circa $3,165,000.
Soden’s also occupies a 3,152 sqm of land B4 mixed use zoning that allows for a height limit of 35 metres and an FSR of 3:1.
Receiver appointed FerrierSilvia has engaged Manenti Quinlan & Associates in conjunction with D.J. May Real Estate as agents for the campaign.
Transactional activity in the sector over the past several months has been centred around New South Wales, throughout Sydney and extending to regional assets.