Beloved pub owner, Stephen Paterson, has handed over the reins of Bundaberg’s local favourite Railway Hotel, incorporating Spotted Dog Café, Bar and Grill.
The hotel was sold exclusively by leading agency Savills, as the market continues to witness activity across the state.
After an off-market sales approach, the Railway Hotel was purchased by a syndicate led by first time publican Adrian Evans.
The asset occupies a commanding 4,473sqm* corner site fronting Perry and Hanbury Street, while the adjoining residential properties are each located on 1,012sqm* sites on Perry Street.
The hotel benefits from its prime position, a 3 minute* drive from Bundaberg’s town centre and adjacent to the Burnett River.
Established in 1977, the Railway Hotel is a multifaceted hotel that comprises a number of facilities including sports bar, TAB and Keno facilities, restaurant, restaurant bar, beer garden, café, gaming room (8 EGMs with approval to operate up to 15), function room, drive-through bottleshop, detached bottleshop and accommodation.
Leon Alaban, National Director – Savills Hotels said, “The new owner has made a strategic move with the purchase of the Railway Hotel, with the asset only recently completing extensive refurbishments of the beer garden, function room and bar / bistro area. These renovations have added significant value to the property and have placed the new owner in a good position to continue capitalising on the asset.”
“The new owner also recognises the added value of the hotel with its intangible asset of goodwill, which comes with a strong positive reputation and established customer loyalty.”