The iconic North Nowra Tavern has again been put up for sale, the third time in six years.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The property was put on the market after one of the owners, Gary O'Donnell passed away. His family and co-owner decided to sell the hotel as operating it from Canberra and Sydney became challenging.
The North Nowra Tavern was sold for $5.92 million at auction in March 2014.
In 2017, the hotel was then purchased by Gary O'Donnell and publican Mark Duggan. According to PubTIC, a publication for professionals in the pub industry, it was purchased for just under $12 million.
The pub has 25 poker machines and reportedly brings in over $7.5 million in annual revenue through its bar, bistro, gaming, wagering and retail liquor store.
The property is being sold by a national brokerage agency based in Sydney and expressions of interest in the property are open until April 15.
HTL Property director Sam Handy said he expects the property will bring a lot of interest.
"We expect there to be a very strong level of interest and enquiry given these large format south coast freeholds rarely come to market," Mr Handy said.
"There are three pubs on the southern side of the bridge while the North Nowra Tavern is the only pub on the northern side of the bridge. It enjoys its own exclusive trade catchment area."
"Key Coastal and Regional centres along Australia's East Coast have been heavily investigated and consequently actioned by numerous leading hospitality investors over the past 12 months," =HTL Property national pubs director Dan Dragicevich said.