Karratha’s Tambrey Tavern yours to own and run
One of the Pilbara’s most beloved watering holes is up for grabs.
The Tambrey Tavern in Karratha is back on the market amid growing consumer confidence across Western Australia’s sprawling north west.
CBRE Hotels’ Ryan McGinnity and Chloe Mason have been appointed to market the venue, which generates in excess of $13 million in annual turnover thanks to its glowing reputation among locals and FIFO workers.
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Situated on a 2.59ha site on Tambrey Drive, the tavern has been developed over two adjoining titles with an 850sqm retail liquor superstore contributing significantly to the strong returns.
But it’s the market bounceback in recent months that has buoyed the industry.
The recent sale of the Karratha Tavern and strong interest in the Seasons Hotel at Newman are just the tip of renewed interest.
The Tambrey Tavern has a bottle shop with significant turnover.
“With the iron ore price around $100 a ton, gold prices at all-time highs and the Northwest Shelf project accounting for one-third of Australia’s oil and gas production, major regional towns, such as Karratha, Port Hedland and Newman, will become the focus of investor attention as the economy continues to rebound,” McGinnity says.
Mason notes the well-known venue’s trading and future growth would be underpinned by the region’s permanent population – over 23,000 – and its increasing FIFO workforce.
She says with a combined development spend of more than $10 billion via the recently announced Perdaman Chemicals and Fertilisers plant in Karratha and the second stage of Chevron’s Gorgon project, local job prospects are strengthening.
“Currently turning over in excess of $350,000 a month through the pub and over $700,000 through the bottle shop, the Tambrey is already comparable with some of WA’s largest venues and offers huge upside potential,” she says.
The Tavern occupies a significant 2.59ha site.
Boasting a tavern, bistro and function centre, the Tambrey Tavern also offers scope for additional residential or commercial development.
McGinnity says that uncertainty surrounding Liquor Licence restrictions at the time of a 2017 campaign means Pilbara operators have been facing an uncertain trading future.
These included proposed blanket reforms for the Pilbara that would stop packaged liquor sales on Sundays and place a limit on takeaway alcohol sales at all other times.
“As the proposed restrictions are now ceased within certain venues and localities, liquor owners and operators are able to confidently invest in north west towns such as Karratha,” McGinnity says.
The Tambrey is being offered for sale via offers to purchase on a walk-in-walk-out basis, closing Friday October 4, 2019.
