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40-46 Lannercost Street Ingham, QLD 4850

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40-46 Lannercost Street,
Ingham, QLD 4850

Hotel & Leisure

Price information

Sale

$1,950,000

Key property information

Land area

Floor area

Car spaces

Property extent

Map of 40-46 Lannercost Street

Directions

For Sale - Royal Hotel Ingham

The pub was originally built in 1886 and was completely re-built in 1925. The Sellers have kept the property in pristine condition throughout the years. The Seller's mother, Pina Quagliotto, purchased the property in 1959. Alan Quagliotto first bought in during the early 2000s and became a full owner with his wife, Sharyn, in 2009. It has been owned by the Quagliotto family for 60 years.

The pub made $254,177 for the 18-19 financial year. There is a lease to the newsagency for $44,000pa which is not included in the Profit & Loss Statement. The Royal Hotel pays it's Landlord $65,000pa in rent, which doesn't need to be paid by a new owner. The rates aren't included in the Profit & Loss Statement and come to $15,000pa. Adding these back in and the net total profit is $348,177.

Upsides
1. The pub has a commercial kitchen that is underutilised. It only provides catering for functions and lunches on Wed-Fri only
2. The pub has 15 gaming licenses with approval for 2 more. There are no licenses available for tender within the coastal area of Queensland
3. There is no TAB
4. There is no Keno
5. The beer garden isn't fully being utilized for events or live music
6. The site is 3,091sqm with a coverage of about 50% - there is room for expansion
7. There is room for a drive-through
8. Accommodation
9. A function room and attached bar with a maximum of 260 people

Sale
The pokie business with 15 licenses and roughly $220,000 worth of machines with approval for 2 more licenses. There is over $1,000,000 worth of pokies and licenses.

There is a business.

There is freehold real estate and land.

Targeting a sale at $1,950,000.

Property ID: 503389342Last Updated: 6 Feb 2020

0413 *** ***
40-46 Lannercost Street
Ingham, QLD 4850

Agency contacts

E-Property Consultants - NQ
E-Property Consultants - NQ
458 Flinders Street
TOWNSVILLE CITY, QLD 4810
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Kyle Grigolon
E-Property Consultants - NQ
40-46 Lannercost Street Ingham, QLD 4850

Hi,
I’m interested in this property. Could you please provide me with more information.

Kind Regards,

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