Naughtons Hotel in Parkville is an immaculate hotel having undergone a recent refurbishment. As the only hotel in Parkville not only for accommodation but also for food and drink the venue is in the unique situation of not having any competition yet is in an inner suburb location.
The accommodation comprises 11 very well appointed rooms and the income from them pays for the rent and more which comes in at $200k a year. With each quarter the occupancy rates are increasing as the rooms become more widely known as being available and because of the excellent service there are a large number of repeat guests.
On the ground level there is the main public bar that services the bistro area with seating for 80, a further 70 seats in the side bar area, 40 seats outside in the enclosed footpath trading area and 33 seats in the private dining room. The rear of the venue has another bar that supports a function area that can cater for 50.
As you would expect for such as well presented venue there is a new fully equipped kitchen, glycol beer system and large amount of fridge capacity included with all the fixtures and fittings. This is to also support the offsite sales aspect of the liquor licence which is a 1am general licence with a capacity of 329. There are also 23 years left on the lease.
At the moment the venue is only trading from Monday to Saturday lunch and early evening dinner so there is a further areas to increase income with the breakfast and Sunday crowd and possibly staying open later in the week. The reason why the owners have not already done this is that they do so well at the moment that they do not need to open and any way they are looking to retire.
All the hard work of establishing the venue and getting a good reputation has been done. But Naughtons Parkville needs an experienced, dynamic operator that can take the venue to the next level. So the owners are looking for offers in the region of $1,100,000 and will also accept a deal involving vendors terms.
This venue is now SOLD.