MANENTI Quinlan and Associates, in conjunction with Gilchrist Business Brokers, is pleased to announce the sale of a local favourite, the Crescent Head Tavern.
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As specialists in the hospitality industry, and with a proven track record, the owners of the Crescent Head Tavern entrusted the specialist brokers with the sale of the business.
Leonard Bongiovanni, a director/licensee with Manenti Quinlan and Associates, said the new owners are part of a local syndicate.
"The new owners found the business appealing due to their local ties and the tavern's coastal village location," Mr Bongiovanni said.
"As the only pub in a town with a historically-strong tourism trade, the new buyers recognised the value in acquiring this business."
The tavern's previous owners have operated the establishment since September 2010, taking care to update most of the capital items throughout.
Financials for the past decade reveal the tavern is consistently profitable, due in large part to its ideal location. Average weekly sales figures for the tavern are $35,571, Mr Bongiovanni said.
Considered a surfing paradise, Crescent Head is home to a world-famous point break, offering one of the longest rides in Australia. Other popular activities include swimming, fishing, and bushwalking in the nearby National Parks.
The tavern's proximity to the scenic beach and other popular attractions is a huge benefit for the new owners.
The single-bar operation includes an inviting outdoor area at the building front that is a stone's throw from the beach and caravan park. In addition to its outdoor eating area, the tavern features a bistro dining area within the main bar.
Located beneath the tavern's bar service area are a bottle shop and takeaway pizza operation that is popular with locals and tourists.
Other prominent features of the property include:
- Four active poker machines in the gaming room
- Ample off-street parking
- Well-equipped commercial kitchen.
The new owners have not yet revealed their plans for the tavern, but Mr Bongiovanni said it is move-in ready.
"The previous lessee was very proactive with regards to the upkeep of the tavern and the new owners will continue to service the local community," he said.
