Iconic outback pub listed for sale after $500,000 price cut
Film buffs and publicans alike have the chance to own a slice of Australian history, with the legendary Silverton Hotel up for sale after a big price reduction.
The outback pub has featured in films such as The Adventures of Priscilla, Queen of the Desert and Mission Impossible II, as well as countless TV ads, and has been listed on realcommercial.com.au with a new lower price.
The hotel at 12 Layard Street, Silverton features a 40-seat bistro, a 250-seat covered beer garden and seven recently-built motel units.
The Silverton Hotel is being offered to the market for $2.5 million after a $500,000 price cut. Picture: realcommercial.com.au
It’s been offered to the market before, with owners Peter and Patsy Price previously seeking $3 million for the 1960sqm freehold property and business.
But that price has since been reduced to $2.5 million as the couple look to finally retire after almost 14 years at the helm.
Owners Peter and Patsy Price are looking for to sell the property to a new owner, having run the pub since 2010. Picture: realcommercial.com.au
“I’m kicking over 78 this year and Patsy’s not far behind me,” Mr Price said. “We want to pass the baton on to people who love the bush and love the outback.”
“I feel we’ve done a pretty good job with the pub, but it’s time to move on with someone younger with a bit more energy.”
The pub is a must-stop for outback roadtrips, and visitor numbers swell during the peak winter season. Picture: realcommercial.com.au
The hotel hosts more than 170,000 visitors per year, Mr Price said, with numbers swelling for nearby events such as music festival Mundi Mundi Bash.
“The main pub building was built in 1884 and it has been well maintained,” Mr Price said. “We’ve put $1.8 million into the property in the time we’ve been here.”
The hotel features seven recently-built motel units, as well as the ruins of the original pub where BHP was born. Picture: realcommercial.com.au
Sales agent John Langford of Langfords Hotel Brokers said the pub was a significant business that suited a buyer who loved the outback and meeting new people every day.
“Last financial year total sales from all sources including bar, meal and accommodation was just over $1.7 million,” he said.
Mr Price said the pub serves more than 300 meals per day during school holidays, a number that can double during festivals. Picture: realcommercial.com.au
Located 25km from Broken Hill, Silverton has a tiny population of just 48 people, but punches above its weight in terms of cultural significance.
Its surrounds served as the backdrop for films such as Mad Max II, filmed there exactly 40 years ago, as well as upcoming Mad Max instalment Furiosa: A Mad Max Saga.
The pub is also a must-stop for many outback road trippers, and the hotel supports charity events such as the Variety Bash.
The pub serves as a stopover for outback explorers and charity rallies. Picture: realcommercial.com.au
Silverton boomed in the late 1800s after silver was found in the area, but its population of about 3,000 rapidly declined to just 300 at the turn of the century as the ore was depleted and miners were drawn to richer deposits found at nearby Broken Hill.
The town was also the birthplace of mining giant BHP, which held its first meeting in the original Silverton Hotel. While the original building burned down more than 100 years ago, the ruins of the old pub remain on site.
