‘There is still plenty of upside for the new owner to take it to a whole new level’: Adelaide River Inn and Resort open for expressions of interest
The Territory’s beloved Adelaide River Inn and Resort is up for sale. Are you interested?
Northern Territory
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THE Territory’s beloved Adelaide River Inn and Resort is up for sale for the first time in almost two decades.
Expressions of interest are open until August 23 for the whopping 5.4-acre (2.18ha) freehold property 113km south of Darwin, which consists of six titles of land.
Within the property is the Inn with the 303 Bar and Digger’s Bistro, outdoor dining and the beer garden.
In front of the main building is the Puma service station, which is one of the top five Puma stations in the Territory.
The resort includes 43 hotel rooms ranging from budget, motel rooms and self-contained cabins.
The caravan park includes 23 powered sites, unpowered sites, laundry facilities, amenity blocks, staff and manager’s accommodation and a swimming pool.
There are also other structures such as a previous cafe/restaurant that are not in use.
The businesses combined have a gross annual income of about $9m, according to 2020-21 figures.
The inn is also the go-to spot for World War II activity in the historic area. It is also home to one of the NT’s most famous celebrities Charlie the Buffalo, of Crocodile Dundee fame.
It is currently owned by businessman Bob Smith, who bought the property from John “Foxy” Robinson in early 2002.
From 2007 onwards, the complex has been run by Bob’s son, co-owner and general manager Jason Smith.
Jason and wife Kristie, who had an office romance at the property and have since had two children, have worked to shape the complex into a family-friendly venue catering for all types of visitors.
“There was a lot of growth that needed to happen. It was enjoyable, I was happy to watch it happen,” Jason said.
“We’re really known for our food. Good food, good-sized meals and a safe family environment. People are coming out from Darwin and doing the trip to come down and have a few beers in the beer garden, let their kids play and enjoy a good meal.”
Jason said the property could be operated as a profitable business in its current state, but buyers had the chance to harness existing opportunities, such as growing the accommodation or service station.
“The Puma is very busy and an essential part of that service along the highway,” he said. “You’ll be quite surprised at how many people need that service right up until midnight and they’re waiting for us at five o’clock in the morning to open.
“There’s heaps of room to build more infrastructure, more motel rooms or cabins.
“It’s really an open oyster for anyone.”
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Real Estate Central sales professional Daniel Harris said it was an opportunity not to be missed.
“The numbers this place produces across the three businesses are compelling and there is still plenty of upside for the new owner to take it to a whole new level,” he said. “We have already been approached by multiple parties off the back of the rumour this property was coming to the market and have several groups keen to carry out their own due diligence and make offers.”
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