Port Dock Brewery, Railway Hotel, Portland Hotel and Cumberland Hotel up for sale in Port Adelaide
Port Adelaide is going through a major change and there are still investment opportunities available with four pubs on the market in the area – including one that’s been up for sale close to two years.
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In its heyday, the Port Dock Brewery was one of the most successful business in Port Adelaide.
But after laying empty for almost two years, the agent handling the pub is hopeful of a sale in the near future, especially with the Port going through a boom period.
Port Adelaide is going through a major change at the moment, with large numbers of visitors flocking to the suburb and plenty of development underway, but there are still good opportunities for anyone looking to run a pub in the area.
Two of the suburbs most successful businesses – Pirate Life Brewing and the revamped Port Admiral Hotel – regularly attract scores of punters.
But other premises lie empty – just waiting for investors with the vision to take them on.
The Port Dock Brewery, Railway Hotel, Portland Hotel and Cumberland at Glanville are all on the market.
In Todd Street, the Port Dock has been on the market for close to two years after the sudden passing of its former publican John Cowled.
Langfords Hotel Brokers owner John Langford, who is handling the sale alongside Savills, said the late Mr Cowled was passionate about the pub.
“He really had the pub going well and was doing a brilliant job of running it,” he said.
Mr Langford said there had been some interest in the past couple of years, including potential buyers looking at alternative uses such as a restaurant or apartments.
But at the moment, it is still on the market with an asking price of $1.85 million, which includes 15 poker machine entitlements.
Mr Langford said with banks tightening their lending around hotels, they were looking for a cash offer on the Port Dock.
Meanwhile, The Railway Hotel – known as one of the Port’s best destinations for live music – is on the market with the leasehold or freehold is available on the St Vincent Street property.
A freehold investment opportunity is also on offer for the iconic Portland Hotel on Commercial Road, while just out of the Port at Glanville, the Cumberland is a historic pub with a focus on live music.
The sale of the 150-year-old hotel includes indoor and outdoor stage facilities as well as six gaming machines, accommodation, a main bar and full commercial kitchen.