PHOTO: The Elephant and Castle Hotel is in Bathurst, in the Central Tablelands of New South Wales
- Pub owners list businesses for sale as Covid-19 pandemic bites hard on industry
- Prices for regional pubs begin at $480,000 and go as high as $1.9million
- Experts say downturn has stoked commercial interest in the properties
- Buyers may also wish to fulfill their wish of owning and running a country pub
Some of the oldest pubs in Australia have hit the retail market and are begging to be bought and loved by new buyers and wannabe publicans.
Experts say the Covid-19 pandemic has hit the hospitality industry badly, forcing embattled owners to put their properties up for sale across Australia.
Revenue fell by nearly 20 per cent in restaurants, pubs and nightclubs in the 2020 financial year, data from IBISWorld shows.
Chief economist Nerida Conisbee noted there would be some buyers looking for a venue as sellers may be looking to offload their business at a lower price.
‘It can be more of a lifestyle choice too, especially when you get to regional areas,’ she said. ‘If you’re looking at buying a country pub then you’re probably going to move to that area and enjoy the change of scenery.’
The Broad Arrow, Western Australia – $480,000
The pub (pictured) still maintains its rugged 120-year charm and has become a popular watering hole for tourists, miners and motorbike riders
The Broad Arrow Tavern at Kanowna, (pictured) about 30km outside of Kalgoorlie, in regional Western Australia is on sale for $480,000
First up is The Broad Arrow Tavern at Kanowna, about 30km outside of Kalgoorlie, in regional Western Australia.
Although it was built in 1896 its owners have given it a new lease on life with recent renovations and the installation of a swimming pool below ground.
The pub still maintains its rugged 120 year charm and has become a popular watering hole for tourists, miners and motorbike riders.
It is the last surviving relic of the now abandoned town of Kanowna and has been a centrepiece of a major blockbuster Australian film.
Movie buffs will recognise the pub from the 1971 film Nickel Queen, which starred Googie Withers and John McCallum.
The property sprawls 5,500 square metres and is priced at $480,000.
READ MORE VIA THE DAILY MAIL