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Property Ref: 28045
Riversdale Hotel, Freehold Tavern & Owner Accommodation For Sale in Southland
Property Type: Commercial Real Estate, Country Pub, Restaurants, Taverns, Hotels, Cafes, Bars
Sale Type: Freehold Going Concern
Physical Address: 74 Newcastle Street, Riversdale, Southland
Price: FREEHOLD GOING CONCERN, asking $950,000 +SAV +GST if any
Broker: Adrian ChisholmMobile: +64 21 727 888
Fabulous Freehold Going Concern Opportunity in Riversdale
One of Southland’s best and profitable Country Hotels has come to market for the first time in five years.
This commercial accommodation business and property comprises approximately 822m² of buildings, situated on a 2024m² corner property title, in the centre of the township of Riversdale, Southland.
The Riversdale Hotel boasts a public bar, lounge bar, restaurant, cafe and also takeaways. They currently serve breakfast, lunch, dinner, coffee and drinks, and have a great outdoor courtyard, and a fun gaming room great for all ages. Most of the facilities are family friendly, and they currently offer a courtesy coach home. They have six comfortable accommodation rooms for guests.
The business multiple cash-flow options consist of:
Large bar and outside courtyard, bottle shop, pokies, restaurant/function room, (seats approximately 65 guests) café/takeaways and 6 share facility guest accommodation rooms, plus the owners apartment, which currently is incorporated in the guest rooms, and is made up of two double bedrooms, one single bedroom, lounge, kitchen and bathroom, with a heat pump for the apartment. If the new owners lived offsite, the upstairs hotel guest accommodation would revert to 10 share facility accommodation bedrooms.
KEY FEATURES & IMPROVEMENTS:
- The current operators have been running the hotel for circa 5 years.
- The premises includes a public bar, café, private bar and dining area, six guest rooms, three bedroom manager’s accommodation, bottle store, and gaming room.
- The improvements comprise the Riversdale Hotel being a two story weatherboard clad building, constructed circa 1920s, having had significant alterations and additions since original construction.
- Other Improvements: to the west of the bar is an enclosed smoker’s area, with timber decked outdoor bar areas; to the north of the hotel is a number of external chillers and storage sheds plus a large loose gravel parking area
Location: The property is located on the north-western corner of Newcastle and Durham Streets, central within the Riversdale township, approximately:
- 94km or 1 hour 10 minutes north of Invercargill city
- 138km or 1 hour, 40 minutes to Queenstown
- 109km or 1 hour, 15 minutes to Lake Te Anau
Riversdale is a small rural support town located on State Highway 94 between Gore (20 minutes away) and Lumsden (20 minutes away) The township has a population of approximately 400 residents. It has a primary school, with high schooling provided at either Lumsden or Gore. The majority of the municipal services are provided at Gore.
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28045 | Riversdale Hotel | Valuation
28045 | Riversdale Hotel | Financials (4 years)
28045 | Riversdale Hotel | Council Rates Information
Property TypeCommercial Real Estate
Sale TypeFreehold Going Concern
Physical Address74 Newcastle Street, Riversdale, Southland
PriceFREEHOLD GOING CONCERN, asking $950,000 +SAV +GST if any
Adrian ChisholmPRINCIPAL | Tourism, Hospitality & Leisure Business Broker
Head Office | Otago & Southland
International: +64 21 727 888
NZ Mobile: 021 727 888