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Hotel history up for grabs

UP FOR GRABS: The South Grafton Post Office Hotel.
UP FOR GRABS: The South Grafton Post Office Hotel.

A PIECE of Valley history is on the market with the South Grafton Post Office Hotel up for sale.

Selling agent Angus McKimm, of McKimm's Real Estate, said it was unique for a property like the P.O. South Grafton to go up for grabs.

The fact it was a freehold pub meant it was even more unusual.

"There's value through the turnover, it's a low maintenance pub, the guy that owns it has four casual staff and the returns are great," Mr McKimm said.

He said beyond that the property also had poker machines and accommodation.

"There's eight rooms up stairs which are quite well fitted out," he said.

The property has only gone on the market in the past two weeks and Mr McKimm said there could be interest from local buyers and people from outside the region.

"It's about 50/50 for the interest you get from locals and people already in the interest," he said.

"We typically get a mix of people from outside the area who have an eye for hospitality."

Licensee Terry Kelly said as a first time publican, the P.O. South Grafton was a great start in the hospitality industry - with the customers as one of the highlights of his time there.

"Ninety per cent of the customers are local loyal clientele. They are here day after day, so week to week you know what the business is going to do," he said.

"As a first time publican it has been fantastic, there's something new every day. No, not every day, every minute."

Mr Kelly said it was time to move on to other interests but he thought the business would suit a first time publican or a husband and wife team.

"There's accommodation for a family," he said.

"There's an opportunity for the bistro and kitchen to be re-opened and the Friday and Saturday evening entertainment, that would be a good opening."

Freehold

A freehold sale means the buyer has outright ownership of the property and business, not just the business lease.

Topics:  property insider south grafton



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