One of Goulburn's oldest pubs has hit the market with price expectations of $13 million.
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Owner Peter Griffiths and his family company, Pubfunds Pty Ltd, have listed The Tattersalls Hotel for sale, some 15 years after purchasing the pub.
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Mr Griffiths said his family's recent relocation to Albury had sparked the decision.
"Our family has lived in Goulburn for the last 17 years but has relocated to Albury for both business and lifestyle reasons," he said.
"The Tattersalls Hotel is really well positioned for an incoming operator seeking an immediate cash flow, and with very little capital expenditure required."
Agents Blake Edwards and Sam Handy have been appointed to sell the two-storey structure on the corner of Auburn and Clinton Streets. Its original section dates back to 1843.
Located on 2,883 square metres, it has annual revenues exceeding $4,450,000, a 3am liquor licence, 16 gaming machines, refurbished bar, cafe, two beer gardens, 12 accommodation rooms and two shop tenancies.
Mr Griffiths said he would retain The Astor Hotel opposite but it was time for a change.
"As a family we're very proud of what we achieved in Goulburn. Both hotels are enormously successful," he said.
"But an opportunity arose and we've made the decision for our business. We're a lot bigger now with more on our plate."
He said when the family purchased 'The Tatts' it was a very different hotel. Through two major refurbishments they transformed it into a family pub where females felt comfortable to go. Mr Griffiths said hotels traditionally registered few sales before 11am but the addition of a coffee shop had changed all that, along with perceptions.
"When we arrived there were 12 hotels in Goulburn and now there are six. It goes to show what can be achieved," he said.
![The Tattersalls' Tango room. Picture supplied. The Tattersalls' Tango room. Picture supplied.](/images/transform/v1/crop/frm/FkT3ZusFw5YrTvZCipmLUF/b8bd9315-9d32-47bc-99f4-3c1ce2e91e08.jpg/r0_0_2048_1302_w1200_h678_fmax.jpg)
Mr Griffiths believed the notion of the traditional pub had changed with demographics, expectations and the trend to family-friendly atmospheres. Gradually, some of Goulburn's pubs had undergone refurbishments, giving the scene "a little bit of a shake."
"They're not just watering holes anymore and everyone is a bit more discerning," he said.
Mr Griffiths, who has been in the hospitality industry most of his life, also owns The Astor Hotel at Albury and another hotel at Queanbeyan. Across his interests, the company employs 200 people.
Some staff at Goulburn had been with him from "day one" and he said any buyer would be "crazy" not to employ them.
Agents are marketing the hotel widely and expect to attract interest locally, from the surrounding region and Sydney.
They said Goulburn pub's market had seen "considerable activity and rapid consolidation over the last few years."
'With one of the most favourable pub to population ratios in regional NSW, in combination with one of the strongest regional economies and population growth forecasts, Goulburn offers hoteliers some of the very best macro investment fundamentals in the state," Mr Edwards said.
The campaign follows other recent regional sales including the Royal Hotel, Armidale, Tattersalls Hotel, Casino, and Narrabri's Namoi Hotel.
![The Tattersalls Hotel sits in a commercial planning zone with opportunities for more mixed use development, according to agents. Picture supplied. The Tattersalls Hotel sits in a commercial planning zone with opportunities for more mixed use development, according to agents. Picture supplied.](/images/transform/v1/crop/frm/FkT3ZusFw5YrTvZCipmLUF/42746c92-3f96-4fc2-b8ef-ba0fc45c48e9.jpg/r0_291_2048_1533_w1200_h678_fmax.jpg)
"The regional pub market has been comparatively sluggish over the last six months, with both an under supply of quality hotels available, and buyers struggling to understand where fair value sits in an escalating interest rate environment," HTL property director, Sam Handy said.
"We anticipate that the Tattersalls Hotel campaign will be an excellent bellwether for where the more positive market now sits."
The hotel is being offered via an expression of interest campaign closing at 5pm on Thursday, September 28, if not sold prior.
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