30 Year lease to 100% Market Share Pub

3/189 Gorman Drive, Googong NSW

Property Highlights

30 Year Net Lease
100% Market Share
Extensive Fitout
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Description

Burgess Rawson are proud to exclusively offer for Sale by Auction this outstanding β€˜Pub’ in Googong NSW (Queanbeyan) with a 100% market share. This sports pub, restaurant and bar comes with an exceptional fitout and a fantastic tenant on a 30 Year lease with another 10 year option.

Googong is a brand new master planned township which is on its way to have around 18,500 inhabitants, as well as numerous schools, parks, shops and businesses – everything you’d expect to find in a thriving town. It’s located near the Googong Dam on Old Cooma Road in New South Wales, just 16km from Parliament House in Canberra and 4km south of Jerrabomberra.

The Googong North Village tenants include a 1,000sqm IGA supermarket, a 90 place childcare centre, Allied Health Facility including Discount Pharmacy, Googong Family Practice, Dentist and Vet. In addition is Dominos, Moker Bean Cafe, Mama Beauty, Hairdresser, Liquor, Club Lime Gym, Community centre, 20 Residential apartments and large public carpark.

Gorman and Co is the place to go for Googong and surrounding areas with a controlling 100% market share serving the township and surrounding areas. Gorman & Co has a large and enthusiastic social media and local following and provides an upmarket atmosphere with extensive tap range, restaurant quality food and multiple TV displays including a giant main wall display for all matters sport. Regular weekly specials and live music ensure this is the place to be.

The tenant has spent over $1,300,000 on the architecturally designed fitout. Quality workmanship and fitout components using the best audio visual and materials throughout. The outdoor area also has electronic cafe blinds and strip heating ensuring an all year round venue with full bifold doors creating an indoor/outdoor environment. No expense has been spared to provide the community an exceptional entertainment experience.

This investment provides a long term hold for any savvy investor with a quality experienced national multi site tenant with extensive hospitality experience with large venues.

Highlights Include:

– Central location in the Googong North Village Precinct.
– Over 120 on grade car spaces.
– 30 year lease with 1 x 10 year option
– 3 % Increases
– Quality fitout with all year round environment
– Located within busy shopping precinct

Lessee: 3 Point Hospitality Pty Ltd
Lease Term: 30 Years
Lease Commencement: 1st February 2020
Lease Expiry: 31st January 2050
Options: 1 x 10 years

Net Rent: $127,308 as of 1 Feb 2022 (Settlement)

Property Details

Listing
Sale
Occupancy Type
Retail
Building Area

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