Shamrock Hotel

Chris Tinning & Company

Hotel – Motel Brokers, Management and Consultants

Apr 18

For Sale Shamrock Hotel

1 Fitzroy Street GREENETHORPE NSW 2809

Freehold, vacant possession, including land and buildings, hotelier’s license, plant & equipment, with stock at valuation. ASKING $320,000 NOW $275,000

117 Byrnes Rd, North Wagga, 2650 Nicholas Tinning 0417 252199 E Mail: [email protected] Web: www.hotelbroker.com.au Real Estate & Business Agents License 314716

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INTRODUCTION

Chris Tinning & Company has been instructed by Gibbins Pty Ltd; the owner of the Shamrock Hotel at Greenethorpe to sell the freehold and business of their hotel.

Ashley & Kylie Gibbins have owned the Shamrock Hotel for the past 3 years and have invested, time, effort and substantial money to improve the facilities of the hotel for the greater comfort of the patrons.

During this time the trading pattern of the hotel has been intermittent, also running an orchard and the demands of a young family has taken its toll on the business of the Shamrock Hotel.

Currently operating from Thursday to Sunday for very limited hours there is plenty of scope to take this business forward.

The tight knit village population swells with tourists for each of Iandra Castle open days.

The hotel sits on a large land holding that lends itself to “free camping” or a myriad of other uses.

This Property Report contains information that is considered private and confidential. We request that you treat its contents in such a manner.

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LAND PARTICULARS

Address: Shamrock Hotel 1 Fitzroy Street Greenethorpe NSW 2809

Title Details: Lot 5, 6, 18, 19 in Section H of Plan 6279 Lot 7 in Section I of Plan 6279

Land Area: Approx. 4868.9 square metres

Land Value: As assessed by the Valuer General - $28,300 & $8,500 as at 1-7-17.

Land Tax: Nil: Below threshold 2008, based on a single Holding Basis.

Zoning: Village

Services: Town water – Cowra Water Electricity - Origin Telephone - Best Telecom Septic NBN (available Sky Muster)

Extract from the ABS

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Shamrock Hotel - Greenethorpe

Greenethorpe is a purpose- built town, established in 1908 to house sharefarmers who worked on Iandra, the nearby pastoral station. This was the birth place of share farming in Australia.

Iandra Castle is a large homestead 11 km south of the village. This ornate mansion consists of 57 rooms, there is also a blacksmiths, managers’ residence, stables and small gothic chapel.

Recent years have seen the Castle opened to the public more regularly and many travel to view this reminder of the manorial system.

Located in the Central West of NSW, Greenethorpe is 345km west of Sydney, between Cowra, Grenfell and Young with some of the richest pastoral area surrounding.

Greenethorpe includes a general store with post office, public school, art gallery and police station. The large grain silo’s opposite the hotel make the Shamrock the centre of business during harvest.

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IMPROVEMENTS

Erected on the site is single-storey hotel comprising:

► Public Bar ► Ladies parlour (not currently used) ► Lounge with pool table ► Dining Room ► Commercial Kitchen ► 6 guestrooms ► Owners accommodation ► Extensive grounds

The general construction is as follows:

External Walls Brick with concrete stucco

Roof Pitched Corrugated Iron

Window Frames Wooden

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Flooring Timber/Concrete

Internal Linings A combination of rendered brick and plasterboard

Ceilings Plasterboard and fibro ceilings.

General Comment

Patron areas have been extensively renovated over the years to provide facilities demanded by today’s customer. Included in this upgrade has been equipment such as a full glycol beer reticulation system, ground level cool room and new furniture.

DEPARTMENTS

Public Bar

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Pool Room

Dining

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Kitchen

Guestrooms

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The round table: (Patron smoking area)

Rear Yard

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DETAILS OF TRADE

Entitlements: 0

Liquor Serving Points: Public Bar.

Licensed Trading Hrs: 5am to Midnight Mon to Sat 10am to 10pm Sunday

Drink Charges: 10oz Middie $4.00 15oz Schooner $5.00

Full Spirit & Mix $7.50 RTD Drink –in Basic $8.50 Premium $9.50

Stub six pack $21.00

Bulk Beer Dispensed: Carlton Draught (Coolroom /Glycol) Great Northern 3.5 Carlton Dry Great Northern Original VB Resches

Promotion: Limited theme nights Family reunions, wakes and weddings

Entertainment: Irregular

Solar: 13.5 kW unit - Owned

Accommodation: 6 Hotel rooms (currently not let)

Food: Wednesday to Sunday Dinner

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Inventory & Repairs

ITEM AGE QTY COST TO US

BAUHN 100CM LCD TV 24 MONTHS 1 $ 500.00 GLASS WASHER (15A) 18 MONTHS 1 $ 3,000.00 PIE WARMER 24 MONTHS 1 $ 1,500.00 2000L DISPLAY FRIDGE WITH EXTERNAL MOTOR & COMPRESSOR UNKNOWN 1 $ 750.00 LANCER GLYCOL BEER SYSTEM (6 TAPS) UNKNOWN 1 $ 1,000.00 CEILING FANS 24 MONTHS 2 $ 500.00 SPLIT SYSTEM AIR CONDTIONER 7.1KW 24 MONTHS 3 $ 12,000.00 SPLIT SYSTEM AIR CONDTIONER 4.3KW 5 YEARS 1 $ 800.00 CORDLESS PHONES 24 MONTHS 4 $ 450.00 PEDESTAL FANS 24 MONTHS 4 $ 120.00 CHICKEN ROTISSERIE (15A) 24 MONTHS 1 $ 4,000.00 HOT DOG MACHINE 12 MONTHS 1 $ 1,000.00 MICROWAVE OVEN 5 YEARS 2 $ 400.00 DISHWASHER 18 MONTHS 1 $ 6,000.00 2 X 8L DEEP FRYER (15A) 18 MONTHS 2 $ 2,400.00 100CM GAS GRIDDLE 5 YEARS 1 $ 1,200.00 RANGE HOOD 18 MONTHS 1 $ 900.00 90 GAS / ELECTRIC STOVE 18 MONTHS 1 $ 4,000.00 8 SLICE BUN TOASTER 5 YEARS 1 $ 850.00 COOLROOM MOTOR AND FAN SET 24 MONTHS 1 $ 13,000.00 52 PANEL SOLAR SYSTEM AND INVERTER (13.5KW THREE PHASE) 36 MONTHS 1 $ 28,500.00 800L CHEST FREEZER 18 MONTHS 2 $ 1,500.00 200L UPRIGHT FRIDGE 18 MONTHS 1 $ 600.00 540L UPRIGHT FRIDGE FREEZER 3 YEARS 1 $ 1,200.00 200L CHEST FREEZER 18 MONTHS 1 $ 850.00 VACUUM CLEANER 12 MONTHS 1 $ 200.00 1OOOL HOT WATER TANK 4 YEARS 1 $ 2,400.00 SAMSUNG WASHING MACHINE 10 YEARS 1 $ 800.00 SAM 4S CASH REGISTER 24 MONTHS 1 $ 1,100.00 ALARM SYSTEM 18 MONTHS 1 $ 1,100.00 TRADING HOURS SIGN 18 MONTHS 1 $ 250.00 GAS DEEP FRYER UNKNOWN 1 BUILDING REWIRE, SWITCHES, POWER POINTS, LIGHTS ETC 36 MONTHS 1 $ 30,000.00 EMERGENCY LIGHTING AND FIRE PROTECTION 18 MONTHS 1 $ 5,000.00 COACH LIGHTS FOR EXTERIOR AND SUNSET SECURITY LIGHTS 18 MONTHS 1 $ 4,500.00 350KG BULK LPG INSTALLATION 36 MONTHS 1 ALARM CLOCKS 36 MONTHS 6 $ 120.00 BOUNDARY FENCES AND GATES 36 MONTHS 1 $ 3,000.00 STAINLESS KITCHEN BENCHES UNKNOWN 4 STAINLESS COOLROOM SHELVING 36 MONTHS 4 $ 2,500.00 ALL KITCHEN UTENSILS VARIOUS 200 $ 800.00 STD OFFICE FURNITURE VARIOUS 3

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SWIVEL BAR STOOLS 36 MONTHS 12 $ 3,000.00 FIXED BAR STOOLS VARIOUS 2 WICKER SETTING UNKNOWN 1 MODERN SIDE TABLES 12 MONTHS 4 $ 200.00 60CM ROUND TABLES 36 MONTHS 3 SCHOONER GLASSES 18 MONTHS 200 $ 220.00 MIDDY GLASSES 18 MONTHS 200 $ 220.00 WINE GLASSSES 18 MONTHS 50 $ 220.00 SPIRIT GLASSES 18 MONTHS 100 $ 110.00 REGULAR GLASSES 18 MONTHS 50 $ 100.00 POWDER COATED WIRE GLASS TRAYS VARIOUS 20 $ 400.00 2.4M DINING TABLES UNKNOWN 6 $ 300.00 1.2M DINING TABLES UNKNOWN 2 DINING CHAIRS 36 MONTHS 50 $ 3,750.00 LEATHER LOUNGE (2 SEATER) 36 MONTHS 1 $ 2,500.00 LEATHER LOUNGE (3 SEATER) 36 MONTHS 1 $ 3,000.00 OUT DOOR TABLE AND CHAIR SET (2 SEATER) 36 MONTHS 4 $ 400.00 OUT DOOR STEEL TABLE AND CHAIR SET (5 SEATER) UNKNOWN 2 OUT DOOR GLASS TABLE (2.4M) 18 MONTHS 3 $ 1,500.00 PLAIN OUT DOOR CHAIRS UNKNOWN 20 QUEEN BED AND MATTRESS 36 MONTHS 3 $ 3,000.00 SINGLE BED AND MATTRESS 36 MONTHS 6 $ 3,000.00 WARDROBE 36 MONTHS 4 $ 900.00 LINEN VARIOUS HIGH CHAIR 18 MONTHS 1 $ 50.00 INTERIOR ROLLER BLINDS 36 MONTHS 15 $ 4,500.00 REFURBISHMENT OF BAR (NEW BAR, WALL SHEETING, PAINT ETC 36 MONTHS 1 $ 25,000.00 FLOOR COVERING IN DINING ROOM, PAINT ETC 18 MONTHS 1 $ 5,000.00

ALL PHOTOS AND MEMORABILIA REMAINS PATRONS PROPERTY

$ 196,160.00

The above has been prepared by the vendor to demonstrate the positive condition of this property that is being offered for sale.

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FINANCIAL DETAILS

The following sales have been extracted from the hotel Point of Sale machine.

This is inclusive of GST.

You will note the variance in the number of days open each week and the corresponding sales.

W/E Bar Food Misc TOTAL Days 19/02/2017 $5,177 $0 $450 $5,627 3

26/02/2017 $2,702 $0 $232 $2,934 4 FINANCIAL5/03/2017 $3,071 INFORMATION$62 $1,163 $4,296 4 12/03/2017 $4,023 $35 $1,844 $5,902 4 19/03/2017 $3,972 $261 $1,339 $5,571 4 26/03/2017 $2,665 $76 $1,318 $4,059 3 PRIVATE2/04/2017 $2,802 & CONFIDENTIAL$274 $1,163 $4,238 4 9/04/2017 $2,814 $275 $1,074 $4,162 4 16/04/2017 $2,826 $392 $1,894 $5,112 3 23/04/2017 $2,424 $220 $1,923 $4,566 4 30/04/2017 $3,252 $400 $369 $4,021 4 7/05/2017 $2,065 $263 $443 $2,771 4 14/05/2017 $2,365 $322 $838 $3,524 4 21/05/2017CONTACT $2,880 $159 AGENT$988 $4,027 4 28/05/2018 $1,708 $68 $547 $2,323 4 4/06/2017 $2,495 $16 $410 $2,921 4 11/06/2017 $2,453 $439 $1,180 $4,072 4 18/06/2017 $1,800 $172 $492 $2,464 4 25/06/2017 $3,338 $128 $641 $4,107 4 2/07/2017 $4,147 $80 $263 $4,490 4 9/07/2017 $893 $92 $366 $1,351 4 16/07/2017 $944 $224 $279 $1,446 3 23/07/2017 $1,774 $109 $391 $2,274 4 28/07/2017 $483 $63 $195 $740 1 20/08/2017 $1,251 $350 $130 $1,731 4 27/08/2017 $1,371 $267 $249 $1,887 4 3/09/2017 $465 $154 $74 $693 2 10/09/2017 $530 $80 $157 $767 3 17/09/2017 $930 $213 $101 $1,244 4 24/09/2017 $732 $80 $81 $893 4 1/10/2017 $1,345 $253 $424 $2,022 4 8/10/2017 $1,031 $280 $180 $1,491 4 15/10/2017 $520 $177 $38 $734 2 22/10/2017 $1,067 $78 $228 $1,373 4 29/10/2017 $1,198 $48 $823 $2,069 3

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5/11/2017 $1,494 $220 $504 $2,217 4 12/11/2017 $1,230 $63 $432 $1,725 4 19/11/2017 $2,510 $735 $445 $3,689 4 26/11/2017 $2,954 $1,287 $425 $4,666 4 3/12/2017 $3,727 $1,711 $517 $5,955 7 10/12/117 $3,671 $1,418 $418 $5,507 7 FINANCIAL17/12/2017 $4,504 INFORMATION$1,332 $792 $6,627 7 24/12/2017 $878 $327 $1,544 $2,748 5 31/12/2017 $1,087 $403 $20 $1,509 1 PRIVATE7/01/2018 $1,155 & CONFIDENTIAL$495 $20 $1,669 2 14/01/2018 $1,781 $802 $1,263 $3,845 4 21/01/2018 $1,180 $499 $77 $1,756 4 28/01/2018 $922 $488 $4 $1,413 3 4/02/2018 $2,249 $908 $105 $3,261 3 11/02/2018 $882 $483 $31 $1,396 4 18/02/2018 $1,549 $811 $215 $2,575 3 25/02/2018CONTACT $1,447 $665 AGENT$22 $2,134 3 4/03/2018 $2,551 $631 $160 $3,342 4 11/03/2018 $1,428 $570 $107 $2,105 4 17/03/2018 $749 $133 $19 $901 3 25/03/2018 $1,016 $1,026 $1 $2,042 3 1/04/2018 $2,662 $1,133 $183 $3,978 2 TOTAL $115,126 $22,242 $29,584 $166,951 Av week $2,020 $390 $519 $2,929

The value of a hotel today is a combination of the core asset value and the sustainable business profits.

Business profits are examined as EBITDAE - (earnings before interest, taxation, depreciation, amortisation and exceptional items) to assist in assessing this we have produced an “Estimate” of Profit & Loss.

This “Estimate” has been made using information provided by the freehold owner and our own knowledge of the hotel industry.

We believe the business is ideal for either a “first timer”, or an experienced operator; both who can further progress the business by operating the business to its full potential.

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Shamrock Hotel - Greenethorpe

Income: Projected Weekly Annually @ G.P % Gross Profit Bar $4,000 $208,000 65.00% $135,200 Sundries - Pool table, Juke Box $50 $2,600 100.00% $2,600 Food $700 $36,400 30.00% $10,920 Accommodation $0 $0 100.00% $0 Rebates $0 $0 100.00% $0 TOTAL $4,750 $247,000 60.21% $148,720

Expenditure Weekly Annually Accountancy $31 $1,600 Advertising $0 $0 Bank Fees FINANCIAL$29 INFORMATION $1,500 Cleaning - chemicals $20 $1,040 Entertainment Bands $0 $0 Freight $30 $1,560 Leasing - Solar PRIVATE & $0CONFIDENTIAL $0 License Fee $11 $550 Insurance & Workers Comp $346 $18,000 Light & Power $288 $15,000 Motor Vehicle $115 $6,000 Printing, Postage, Papers $20 $1,040 Rates - Land $7 $371 Rates - Water CONTACT$20 $1,025 AGENT Repairs $192 $10,000 Replacements $96 $5,000 Sponsorship $0 $0 Telephone $29 $1,500 Wages $250 $13,000 Subscriptions $16 $856 Sundries $106 $5,500 Staff Superannuation $24 $1,235 TOTAL $1,630 $84,777 Net Profit per Week $1,230 Net Profit per Annum $63,943

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Notes To Profit & Loss

Income figures have been projected on the historical income demonstrated by the current owner in their records, and our historical knowledge of the hotel. We have assumed a new operator will work the business at a level greater than the 20 hours currently operated. FINANCIAL INFORMATION Industry standard Gross Profits have been applied to the various income streams. PRIVATE & CONFIDENTIAL Expenditure has been based on similar hotels.

It is our belief that a prudent operator will achieve an EBITAR in excess of $63,000.

The above “Estimate”CONTACT has been AGENT produced on the historic operating model.

The use of the accommodation will add income and profit.

The change to a “destination” style hotel will need to involve a more extensive and better planned menu than currently offered. This also will provide greater sales and profit than the current basic 4 day food offering.

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COMMENT

Chris Tinning & Company has been actively selling hotels throughout country NSW for over 30 years. Our knowledge of the industry and comparable properties allows us to recommend the Shamrock Hotel in Greenethorpe as an excellent investment opportunity.

Looking at the improvements to the hotel it is obvious that the current owner has invested heavily in providing the facilities for the long term operation of the hotel.

Tourism is the fastest growing industry in country NSW. We envisage that the Shamrock Hotel can become a destination pub. Correctly marketed and with operator energy then the sky is the limit.

During this marketing campaign we are encouraging all potential purchasers to put forward their best offer for the future of the Shamrock Hotel.

Opportunities such as this rarely present themselves.

The vendor has requested that ALL inspections be organised and conducted through us as agents.

DISCLAIMER

The information contained is private details and we ask that you treat them with confidentiality. This report is for the exclusive use of the person to whom it is addressed and for no other purpose than as an introduction to this property.

Whilst every care has been taken in the preparation of this report, utilising our research and information supplied by the vendor or his accountant; this report does not provide or supply any warranty as to the accuracy of the whole or part contained.

The whole of this report is the property of Chris Tinning & Company. No part of it may be reproduced without permission.

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ANNEXATIONS

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 CURRENT SHAMROCK HOTEL ASHLEY RHYS GIBBINS No. LIQH400113218

START: END: 15/12/1958 » N/A

About ADDRESS

Fitzroy St, GREENETHORPE, NSW 2809 View on map

CONDITIONS

There are no active conditions for this licence.

Printed on : 24/04/2018

NEW SOUTH WALES VALUER GENERAL - LAND VALUE SEARCH ------

PROPERTY NO: 3466721

LGA: WEDDIN

ADDRESS OF PROPERTY: COLLON ST, GREENETHORPE NSW 2809

DESCRIPTION OF LAND: 5, 6, 18, 19/H/6279

PROPERTY AREA: 4438.9 SQUARE METRES (FROM PLAN)

PROPERTY DIMENSIONS: NOT AVAILABLE

VALUING YEAR: 01/07/2017 DATE VALUATION WAS MADE: 06/09/2017

ZONING USED FOR VALUATION: VILLAGE

LAND VALUE AUTHORITY: 14A(1) - ANNUAL REVALUATION

GROSS LAND VALUE: $28,300

DIVISION 3 AND 4 ALLOWANCES: NOT APPLICABLE

NET LAND VALUE: $28,300

LAND VALUE BASIS: 14G - THE LAND VALUE IS THE FREEHOLD VALUE OF THE LAND HAVING REGARD TO HERITAGE RESTRICTIONS IMPOSED UNDER A PLANNING INSTRUMENT

OTHER ALLOWANCES/CONCESSIONS: NOT APPLICABLE

THE CURRENT LAND VALUE FOR RATING PURPOSES IN THE LOCAL GOVERNMENT AREA OF WEDDIN IS THE VALUE AT 1 JULY 2016.

PRODUCED: 24 APRIL 2018 10:25:59 PROPERTY STATUS AT THIS DATE: CURRENT

THIS LAND VALUE SEARCH DOES NOT CONVEY A RIGHT OF OBJECTION TO THE LAND VALUE.

THE VALUES SHOWN ARE CURRENT FOR THE VALUING YEAR AS AT TODAY'S DATE. THE VALUER GENERAL CONDUCTS ONGOING REVIEWS OF LAND VALUES AND THEREFORE THE VALUES SHOWN MAY CHANGE.

THE LAND VALUE RECORDED ON THIS LAND VALUE SEARCH HAS BEEN DETERMINED UNDER THE VALUATION OF LAND ACT 1916 (AND THE HERITAGE ACT 1977, WHERE APPLICABLE) FOR RATING AND TAXING PURPOSES. LAND VALUES HAVE REGARD TO THE REQUIREMENTS OF RATING AND TAXING LEGISLATION AND SHOULD NOT BE USED FOR ANY OTHER PURPOSE WITHOUT THE SPECIFIC AGREEMENT OF THE VALUER GENERAL.

*** END OF SEARCH ***

Councils use the Valuer General's land values in setting their rates. Land values are issued to councils for rating at least every four years. Properties that are subject to Land Tax are generally taxed based on the average of the last three years' land valuation. NEW SOUTH WALES VALUER GENERAL - LAND VALUE SEARCH ------

PROPERTY NO: 477811

LGA: WEDDIN

ADDRESS OF PROPERTY: COLLON ST, GREENETHORPE NSW 2809

DESCRIPTION OF LAND: 7/I/6279

PROPERTY AREA: 430 SQUARE METRES