Prince Edward Hotel

32 Hughes St, Wallaroo South Australia

SOLD - Freehold Investment

Asking Price of $795,000

Prince Edward Hotel SOLD

The single storey visually attractive Prince Edward Hotel was first licensed in 1864. The business continues to be supported by ‘locals’ and visitors to the town due to the hotels old world charm & relaxing character.

Sale by Agents in Conjunction: John Langford, Langfords Hotel Brokers | Glen Shipway, Shipway Hotel Motel Brokers

 

For Sale: Freehold Investment

The Premises comprises:

  • main bar with plenty of customer counter area
  • saloon bar back-to-back to the main bar. Labour efficient in design
  • large bistro/dining room adjacent the Saloon bar
  • commercial kitchen with direct access to the bistro/dining room
  • gaming room with 10 machines operating.
  • relaxing open air beer garden accessed from the main street and bistro/dining room
  • managers residence comprising 4 rooms and bathroom (the lessee lives off premise)
  • on-site customer carpark and ample street parking

The initial return on Investment is 8.5% at the Vendors Asking Price relative to current net of GST rental Income. The Lessee pays all outgoings including building insurance (except Land Tax which is minimal). Many alternative commercial property investment opportunities offer a much lower return compared to the subject property.

The Yorke Peninsula Township of Wallaroo located 160 kilometres Northwest of Adelaide is part of the ‘Copper Triangle’ with Moonta and Kadina. A copper smelter was established in Wallaroo in 1861 which eventually became the largest of its type outside Wales. In 1861 the town jetty was built to bring in coal, timber, food and mining equipment.

Today Wallaroo is a major deep seaport for the transport of grain via ships. The Wallaroo to Lucky Bay (on Eyre Peninsula near Cowell) passenger and vehicle Ferry operates from Wallaroo. Being an SA coastal town, many visitors are attracted to the beaches, scenery and good fishing.

For further information please contact one of the Joint Agents:

John Langford
Langfords Hotel Brokers Pty Ltd
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Ph: 0410 605 224

Glen Shipway
Shipway Hotel Motel Brokers Pty Ltd
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Ph: 0417 801 659

 

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