74 Newcastle Street, Riversdale, Southland

Freehold Going Concern with circa 17% yield

This is your opportunity to own a fantastic, profitable freehold going concern property and business.
The Riversdale Hotel is a classic Kiwi character-building dating back to the 1880s and offers not only accommodation but as the only pub in town it has a well patronized restaurant, cafe and a bottle store. The current owners have looked after this unique property and have invested significantly in recent years through renovations including a roof replacement in 2018, extensive replacement of the weatherboards with enviroboard as well as the guests' rooms refurbished amongst other improvements.
The property consists of 10 rooms upstairs (four of them being self-contained which could be used as a Manager Unit), lovely outdoor, restaurant and pub areas, cafe, pokie machines area, bottle store and large parking area.
This established freehold going concern has a strong local clientele base and reflects in the stable turnover this business has benefited from for many years including during the pandemic. Explore the potential this place offers to grow, and you could achieve even more.
The current owners have loved this place for many years but have decided it's now time to retire. Vendor's motivation to sell is reflected on a price reduction so don't delay your interest and contact us today for a full information pack.