1
CONTENTS 03
04
06
THE OFFERING
LOCATION MAP
EXECUTIVE SUMMARY
08
10
28
LOCATION
TOWER LODGE & TOWER ESTATE WINERY
PEPPERS CONVENT
36
44
ROBERT’S RESTAURANT
SITE & LEGAL / SALE PROCESS
2 I N FOR MATION M E MORAN DU M
THE ESTATE PORTFOLIO On behalf of Tower Estate Pty Ltd and Strathig Pty Ltd, CBRE Hotels, in conjunction with Jurds’s Real Estate have the pleasure of offering for sale the Tower Estate Portfolio (‘Tower Estate’), the market leading luxury hospitality estate in the Hunter Valley, the country’s most recognisable wine region. Tower Estate is quite possibly the country’s best luxury boutique wine estate. It embodies the finest of life’s experiences; indulging in quality wine, enjoying the best locally sourced produce, whilst positioned in picturesque settings in the most luxurious accommodation available.
THE PROPERTIES INCLUDE
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Tower Lodge
PC
Peppers Convent
The multi-award winning estate is positioned in Pokolbin, the heart of the Hunter Valley wine country. It was the last creation of the internationally acclaimed wine entrepreneur and statesman Len Evans AO OBE. With the help of some close friends and an ambitious dream, the Tower Estate experience was brought to life in 2000.
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Robert’s Restaurant
The properties are offered for sale ‘in-one-line’ or individually, by Expressions of Interest
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FOR FURTHER DETAILS ABOUT THIS OFFERING, PLEASE CONTACT THE AGENTS LISTED:
Tower Estate Winery
The Hunter Valley is just 90 minutes from the start of the freeway, a journey that will be even shorter and easier upon completion of the New Hunter Freeway link, opening late 2013.
ROB CROSS Regional Director
PAUL KAPIRIS Negotiator
ALAN JURD Principal
CBRE Hotels T: +61 2 9333 3427 M: +61 408 418 306 E: rob.cross@cbre.com.au
CBRE Hotels T: +61 2 9333 3549 M: +61 418 853 373 E: paul.kapiris@cbre.com.au
Jurd’s Real Estate P: +61 2 4991 4000 M: +61 417 677 924 E: alanj@jurds.com.au
POKOLBIN VILLAGE
TEMPUS TWO
TOWER ESTATE LOCATION OF ESTATE WITHIN THE HUNTER VALLEY
TO SINGLETON & UPPER HUNTER
ND HIGHWAY NEW ENGLA
NE
HERMITA GE RD
AY HW G
W ENGLAND H I
TO MAITLAND AND NEWCASTLE
ORTH RD O LD N
MARRO WBON E RD
E RIV YD TR CO UN WINE
N O CD M
TO KURRI KURRI
BROKE RO AD HALLS RD
AL DS RD
BROKE RO AD
ROAD
L OV E DAL
E
TO KURRI KURRI AND NEWCASTLE
MAITLAND RD
CESSNOCK
WOLLOMBI RD
TO SYDNEY VIA SCENIC DRIVE
AB ER DA RE
TO SYDNEY VIA F3 FREEWAY RD
BLAXLAND’S INN
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TOWER ESTATE WINERY
TL TOWER LODGE
RR ROBERT’S RESTARAUNT
PC PEPPERS CONVENT
5
ES
I N FOR MATION M E MORAN DU M
EXECUTIVE SUMMARY TOWER ESTATE
TOWER LODGE & TOWER ESTATE WINERY
COMPRISING
TENURE
TOTAL LAND AREA
ESTABLISHED
RATING
• Tower Lodge & Tower Estate Winery • Peppers Convent • Robert’s Restaurant
Both the Tower Lodge and Tower Estate Winery assets are held on the same freehold lot
16.19 hectares
1999
5 star
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TOWER LODGE ROOMS
DETAILS
12 luxurious individual guest rooms
Built in 2000 by Len Evans AO OBE, Tower Lodge comprises 12 of the most luxurious guest rooms available anywhere in the country. The reputation for quality of product and service would challenge any hospitality asset, and the new owners will be well positioned to benefit from this.
FEATURES
• Ten rooms and two suites (The Chairman’s and the Oriental Suite) including one wheelchair accessible room • Nine Restaurant located in the original Tower Estate cellar, nine feet below the surface • 24 hour reception • Conference room with seating for up to 12 guests
• Full commercial kitchen • Library • Large common/dining area • Heated pool, spa, sauna • Ample back of house office facilities • Large 2 bedroom, 2 level managers apartment
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TOWER ESTATE WINERY DETAILS The striking winery building which is highly visible from Broke Road, is easily one of the best cellar door and small scale winery’s in the Hunter Valley. The complex includes a modern 300 tonne capacity winery, a few small vineyards, and a detached storage building.
FEATURES
• Prime corner retail trading site located on the “golden mile” • 5-star (James Halliday) rated winery
• Strong Brand and Wine Clubs • High quality design finish and equipment • Potential for expansion
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PEPPERS CONVENT
ROBERT’S RESTAURANT
TENURE
TOTAL LAND AREA
ESTABLISHED
RATING
TENURE
TOTAL LAND AREA
ESTABLISHED
Community title over 2 lots
2.953 hectares (0ver 2 lots)
1995
5 star
Community title over 2 lots
2.032 hectares (0ver 2 lots)
1991 (main building 1995)
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DETAILS
ROOMS
DETAILS
17 luxurious individual guest rooms
Built in 1909 in Coonamble, Peppers Convent was once home to the Brigidine Order of nuns and was carefully transported 600kms to Pokolbin in the Hunter Valley. Lovingly restored to reflect the building’s charming heritage and character, the hotel infuses the ambience of an indulgent French Baroque hotel mixed with the distinctive character of an Australian country guesthouse.
One the Hunter Valley’s most iconic and treasured restaurants, featuring a lounge area, three private dining rooms, and main dining area. Consisting of two main buildings, the “Ironbark Cottage” was built in 1876, whilst the larger main room which seats 120 people was built in 1995. The lot also features the beautifully restored Welsh Baptist Chapel built in 1888, as well as Robert’s Vineyard, and a number of small sheds used for storage and maintenance.
FEATURES
• Stunning tree-lined drive to circular entry • Kitchen • Landscaped grounds • Dining room/Sunroom • Wisteria Courtyard
FEATURES
• Detached semi-permanent marquee • Separate conference space • Separate building • Pool • Tennis Court
• Seating for 120 people • Commercial kitchen • Vineyard • Welsh Baptist Church • Unrivalled reputation
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LOCATION
P
okolbin is situated in the centre of the Hunter Valley region and is mainly recognised for its wine; being Australia’s oldest commercial wine producing area within the Hunter Valley region. It is also typified by a wide variety of cafés and restaurants, craft and boutique style shopping outlets and an array of quality golf courses.
The region is enjoying steady economic and population growth as more people and businesses are drawn to the region by the relaxed lifestyle. Currently a new freeway extension between the F3 and New England highway is under construction which will reduce travel times and make the Hunter more easily accessible to Sydney.
DEMAND DRIVERS
Hunter Valley’s steady growth can be attributed to its broad base of demand generators:
THE HUNTER REGION BOASTS • An approximate population of 600,000 people currently • A cost-competitive business environment • A diverse, affordable quality of life, fantastic recreational and cultural amenities • The Hunter Expressway is due for completion in 2013 which will cut 20 minutes off of the already short trip from Sydney
TOURISM The Hunter Valley is a major tourist destination in New South Wales and is the sixth most visited place in Australia attracting more than 2.5 million people annually.
Pokolbin is located approximately 10km to the north-west of Cessnock, 170km to the north of Sydney, and 60km inland from Newcastle. The surrounding area is primarily vineyards, wineries, golf courses, rural and unimproved land, tourist accommodation and restaurants. Cessnock is the nearest local town and provides shopping services, some large department store style shopping services, as well as professional, school and banking facilities. The F3 Freeway from Sydney provides access via the BranxtonToronto Road exit to Cessnock and the surrounding areas. Pokolbin is accessed from Cessnock, north along Allandale Road then west from the beginning of Broke Road.
OVERVIEW
There are regular events held in the Hunter for visitors, including the world class concert events held at Hope Estate. INDUSTRIES The Hunter Region is one of Australia’s most famous wine-growing regions, known for both its red and white wine varieties. Major industries include power generation through the coal fired power stations, dairy farming and beef cattle farming.
Further information can be obtained by visiting the Cessnock City council website at http://www.cessnock.nsw.gov.au/ business/tourism/huntervalley http://www.rta.nsw.gov.au/ roadprojects/projects/hunter_ expressway/background/index.html.
GROWTH The Hunter Region is growing both economically and culturally. New residential areas are being developed throughout the region to accommodate people attracted to the area by employment opportunities, the family-friendly environment and affordable housing prices. The state government is working with local government to plan for further growth which is expected to continue for several decades. There is even a proposal for a new town of 50,000 to be built near Branxton.
As well as being a thriving centre of tourism for many years, Hunter Valley is a mature, long- established community with regional city status. MAJOR ATTRACTIONS • Wineries and vineyards • Hunter Valley zoo • Hunter Valley Horse Riding, Adventures and Carriage tours • Richmond Vale Railway • Museum • Maitland Gaol • Hunter Valley Gardens • Golf Courses • Wollombi Valley • Convict Trail Project • Hot Air Ballooning • Wine Country Race Club • Australian Woodwork Gallery • Skydiving • Helicopter charters • Art galleries
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MAJOR EVENTS April
The Gum Ball Music Festival May
Lovedale Long Lunch June
Hunter Valley Wine & Food Month September
Hunter Valley Gardens Festival of the Flowers October
Opera in the Vineyards Jazz in the Vines Spirit of the Vine Festival October/November
Sculpture in the Vineyards November to January
Christmas Lights Spectacular All year
Music in the Hunter
Hunter Valley’s events calendar is well recognised and acts as a magnet for holidaymakers across the east coast of Australia. The local tourism authorities are very proactive in maintaining and promoting a strong and diverse calendar of events, creating an enormous demand generator of business (be it leisure or corporate) to the region.
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TOWER LODGE
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TOWER LODGE
Tower Lodge is the leading small 5 star luxury hotel in the Hunter Valley region, accommodating a maximum of 24 people at any one time. The low rise Spanish missionstyle structure is visually sympathetic to its surrounding landscape, and the level of service matches its high level of luxury.
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TOWER LODGE LOCATION
PROPERTY SUMMARY
INVESTMENT HIGHLIGHTS
PROPERTY DESCRIPTION
Built in 2000 and opened in May 2001, Tower Lodge comprises 12 luxury guest rooms including two suites, guest dining room, bar and lounge room, library, central courtyard, managers residence, and Nine restaurant. With impressive facilities that include a heated pool, sauna, gym, and spa, there are no shortage of activities for guests.
AUSTRALIA’S BEST LUXURY BOUTIQUE ESTATE With a reputation of quality to rival any luxury boutique accommodation offering in the country, the goodwill associated with the Tower Lodge name has taken over a decade to establish.
Tower Lodge is centred around a main courtyard with limestone paving and a classic feature fountain. The earthy exterior wall finishes bring a southern European feel to the property. The Lodge entry doors are 100 year old coach house doors from the south of France, and internal doors are a selection of glazed and solid Western Red Cedar, solid Jarrah, and recycled doors.
Each Tower Lodge room is elegantly decorated with antique furniture and rich fabrics. Rooms feature a king sized bed, deep soaking spa baths and separate rain shower. The property includes the award winning Nine restaurant located nine feet below the surface in the original Tower Estate cellar, surrounded by warm earthy sandstone and wood surfaces providing an intimate and luxurious dining experience for up to 12 guests.
OPERATIONAL IMPROVEMENT & REPOSITIONING There lies an opportunity for the incoming purchaser to make operational and structural changes to better utilise the strong positive reputation of Tower Lodge to establish profitability. Furthermore, the incoming purchaser may wish to reposition the asset simply through a shift in its brand direction. PRIME LANDHOLDING With high visibility from Broke Road, the asset holds a key position in the Pokolbin area. The 16 hectare site is without a doubt one of the most prominent sites in Pokolbin.
HOTEL FEATURES • Ten rooms and two suites (The Chairman’s and the Oriental Suite) including one wheelchair accessible room • Nine Restaurant located in the original Tower Estate cellar, nine feet below the surface • Room service (currently from Robert’s Restaurant) • 24 hour reception • Full commercial kitchen • Library • Large common/dining area • Heated pool, spa, sauna • Ample back of house office facilities • Large 2 bedroom, 2 level managers apartment
RATES Tower Lodge weekend luxury rate includes accommodation and breakfast
LODGE ROOM
$810.00
LODGE DELUXE
$860.00
ORIENTAL SUITE
$890.00
CHAIRMANS SUITE
$950.00
All the guestrooms at the Tower Lodge comprise a bedroom area, lounge space, a desk and work space, large bathroom with separate shower area and deep, double spa-bath and dressing room. Each room varies in size, with the average size an impressive 77 square metres (approx), with the Oriental and Chairman’s suites being larger.
Lodge Guest 14
Lodge Deluxe Guest Lodge Guest
Chairman’s Lodge Guest
Lodge Deluxe Guest GUESTROOM LAYOUTS
Lodge Guest
Lodge Deluxe Guest
Chairman’s
Oriental
C
Oriental Chairman’s Oriental
LODGE GUEST ROOM
LODGE DELUXE GUEST ROOM
ORIENTAL SUITE
CHAIRMAN’S SUITE
DRAMATIC, SPLIT LEVEL ROOM WITH DARK, RICH FABRICS AND EXTENSIVE USE OF WROUGHT IRON. A PRIVATE COURTYARD AND AND OPEN FIREPLACE. KING BED.
‘ORIENTAL’ OVERTONES POLISHED WOODEN FLOORS AND PANELLING AND AN OUTDOOR HOT TUB. KING BED.
THE CHAIRMANS’ SUITE IS A FREESTANDING BUILDING COMPLETE WITH TOWER AND VIEWING PLATFORM. THE BEDROOM FEATURES A 300YR OLD HANDCARVED RAJISTHANI BED MARBLE BATHROOM, A SEPARATE CHAMBER/ SITTING ROOM WITH ANTIQUE LEATHER CHAIRS AN OPEN FIREPLACE. KING BED
Oriental
ELEVATED BATH AND DRESSING ROOM. KING OR SPLIT TWIN BEDS. OUTDOOR PATIO WITH VIEWS TO THE TOWER ESTATE WINERY
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TOWER LODGE LOCATION
AWARDS • Winner 2011 “Best Luxury Lodge in Australia” World Luxury Hotel Awards • Winner 2010 “Luxury Lodge” World Luxury Hotel Awards • Winner 2010 “Best New Restaurant” National Savour Restaurant & Catering Awards • Winner 2007, 2008 & 2009 “Luxury Accommodations” Hunter Regional Tourism • Winner 2008 “Luxury Accommodations” NSW Tourism Awards
NINE RESTAURANT Nine is located nine feet underground in the original Tower Estate cellar. Warm earthy sandstone, wood surfaces and plush furnishings provide an intimate and luxurious dining experience for up to 12 guests. Undoubtedly, Nine restaurant is one of the finest restaurants in the Hunter Valley and arguably Australia wide. Headed by Executive Chef George Francisco, the restaurant serves a selection of nine seasonal degustation menus each of nine courses using, where possible, local Hunter Valley produce.
OCCUPATIONAL DETAILS
CONFERENCE SPACE
Currently Relais & Chateux have a membership agreement with the property.
The Tower Lodge includes a conference room with a separate sun room lounge break out area, or the perfect space for an intimate cocktail function. Currently rarely utilised, there is potential to drive the conference business, or possibly utilise this space to make additional rooms (STCA).
MEMBERSHIP FEE $20,000 + other fees and commissions apply COMMENCEMENT DATE July 2009 PERIOD Annual renewal TERMINATION terminable upon publication of the next edition of the international guide and no later than the end of December of the year following the resignation.
APPROXIMATE BUILDING AREAS FRONT OF HOUSE
580 sqm
MANAGERS FLAT LEVEL 1
173 sqm
ACCOMODATION
741 sqm
POOL AREA
80 sqm
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TOWER LODGE LOCATION
CONFERENCE LAYOUT - TOWER LODGE
45
LOUNGE
50
50
80
35
24
110
60
24
CONFERANCE ROOM
SUN ROOM
DINING
20
FINANCIALS TRADING SUMMARY
2009 ACTUAL
2010 ACTUAL
2011 ACTUAL
2012 ACTUAL
YTD APR 2013 ACTUAL
OCCUPANCY (%) AVERAGE ROOM RATE ($) REV PAR ($)
53.1% $ 392.08 $ 208.25
45.7% $ 456.39 $ 208.60
45.0% $ 514.01 $ 231.56
41.8% $ 564.22 $ 235.61
40.9% $ 379.38 $ 155.25
NET REVENUE ROOMS FOOD BEVERAGE OTHER F&B INCOME CONFERENCE OTHER INCOME
909,634 183,348 58,726 9,754 3,300 61,438
903,647 234,164 101,454 8,595 1,755 58,996
930,867 336,869 151,304 41,942 3,200 82,840
728,967 290,693 128,554 50,327 2,880 30,726
511,401 241,802 88,381 29,086 4,255 8,568
TOTAL NET REVENUE
1,226,199
1,308,611
1,547,022
1,232,147
883,493
6,925
(340,613)
84,563
(174,057)
(620,925)
GROSS OPERATING PROFIT
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TOWER ESTATE WINERY
TOWER ESTATE WINERY
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The Tower Estate Winery’s philosophy is to produce wines of classic style from fruit sourced from the specific Australian region that best suits a particular grape variety and style.
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TOWER ESTATE WINERY
PROPERTY SUMMARY
PROPERTY DESCRIPTION
Established in 1999, Tower Estate Winery’s cellar door is without rival in terms of positioning and presence. It catches the eye of any visitor to the Pokolbin area with high visibility from Broke Road.
Tower Estate Winery is located on the busiest section of Broke Road in Pokolbin. The unique architectural style, a blend of country Mediterranean architecture, ensures market awareness amongst visitors to the Hunter Valley. The building has been constructed and finished to the highest standard and features: • Modern cellar door sales and tasting bar • Two separate private tasting rooms • Two large offices • Bathroom facilities • Barrel Store • Winery • Warehouse
INVESTMENT HIGHLIGHTS WELL REGARDED BRAND An instantly recognisable brand within the premium range of the Australian wine industry, Tower Estate is rated a 5-star winery (James Halliday). A strong wine club guarantees a level of annual sales. PRIME LOCATION Prime corner location on Broke Road “golden mile”, the major tourist route in the Hunter Valley.
APPROXIMATE BUILDING AREAS CELLAR DOOR
300 sqm
An architecturally significant Hunter Landmark building which attracts retail customers
BARREL STORAGE
340 sqm
WINERY
340 sqm
REAR WAREOUSE
200 sqm
QUALITY EQUIPMENT State-of-the-art, fully equipped, 300 tonne winery with room to expand if desired. TRADING UPSIDE Potential to restructure the business to better utilise winery space and therefore increase revenue.
The front of house commercial premises are rendered masonry in earth tones with tiled flooring. The Cellar door building blends well with the more industrial construction of the Winery/Barrel Room and Warehouse. Car parking and winery access are constructed to a high standard. The winery building is designed to allow further expansion should further capacity be required. The winery is fully equipped and of a high standard to allow crushing, fermentation and storage to all be carried out on site.
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TOWER ESTATE WINERY
CONFERENCE LAYOUT - TOWER ESTATE WINERY
25
150
40
180
15
60
50
200
12
26
5
FINANCIALS TRADING SUMMARY
CASES SOLD AVG BOTTLE PRICE ($) NET REVENUE WINE - CELLAR DOOR WINE-CLUBS WINE - WHOLESALE WINE LNTERCOMPANY WINE EXPORT GONTRACT WINE MAKING BULK FREIGHT WET OTHER INCOME
TOTAL NET REVENUE GROSS OPERATING PROFIT
2009 ACTUAL
2010 ACTUAL
2011 ACTUAL
2012 ACTUAL
YTD APR 2013 ACTUAL
7,445 $ 17.97
8,932 $ 16.79
9,089 $ 14.98
8,160 $ 14.68
4,177 $ 17.44
716,591 568,078 101,801 111,530 107,576 167, 037 14,335 42,583
582,108 437,893 430,152 126,937 145,670 3,576 6,149 45,869
475,812 321,041 315,918 57,047 118,899
693,152 307,403 184,141 65,876 103,907
372,628 272,912 74,506 65,081 59,136
32,800 32,535
9,767 19,123
19,999
30,948
1,744 76,866 259,952 6,383
17,534
2,198
1,849,530
1,809,302
1,633,662
1,437,348
875,350
170,051
(673,633)
(1,006,601)
(729)
(70,394)
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PEPPERS CONVENT
PEPPERS CONVENT
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Set amidst the beautiful gardens and vineyards of Australia’s world famous Hunter Valley wine country. Peppers Convent Hunter Valley is just two hours drive from Sydney. It was was once home to the Brigidine Order of Nuns at Coonamble in New South Wales before being carefully transported 600kms to where it is now.
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PEPPERS CONVENT
PROPERTY SUMMARY
PROPERTY DESCRIPTION
Built in 1909 in Coonamble, Peppers Convent was once home to the Brigidine Order of nuns and was carefully transported 600kms to where it now sits in Tower Estate. It was lovingly restored to reflect the building’s charming heritage and character, taking elements of its design from a French Baroque hotel mixed with the character of an Australian country guest house.
With 17 well-appointed rooms, the hotel provides guests with the ultimate in Australian country luxury. As one of the best known hotels in Australia, the Peppers Convent will attract strong interest from investors keen to utilise the goodwill associated with this renowned hotel.
INVESTMENT HIGHLIGHTS ONE OF A KIND BOUTIQUE HOTEL The former convent is surely one of the country’s most unique boutique hotels. A favourite for weddings and romantic getaways, the hotel has appeared on ‘The Farmer Wants a Wife’ and is possibly the best known accommodation property in the Hunter Valley. OPERATIONAL IMPROVEMENT & REPOSITIONING There is an opportunity for the incoming purchaser to make operational and structural changes to better utilise the strong positive reputation of Peppers Convent to establish profitability. EASE OF OPERATION The actual hotel asset itself is simple to run, with only rooms and a very small food and beverage component. An operator may wish to separate this asset and run it on its own, simplifying the management as well as the financial complexity.
HOTEL FEATURES • Stunning tree-lined drive to circular entry • Seventeen guest rooms • Room service is available from Robert’s Restaurant • 24 hour reception • Kitchen • Conference room with seating for up to 20 guests • Central A/C • Landscaped grounds • Dining Room/Sunroom • Wisteria Courtyard • Detached semi-permanent marquee • Separate conference space • Separate building • Pool • Tennis Court • Mini Bus
CONFERENCE SPACE
RATES Peppers Convent luxury rate includes accommodation and breakfast:
DELUXE
$267.00
SUPERIOR
$288.00
ROOMS Rooms are tastefully decorated to reflect the hotel’s simple outback heritage. French doors and deep verandahs with views over beautiful gardens and the Hunter Valley vineyards, quality beds and boutique individual furniture pieces are featured. DELUXE ROOM - 9 ROOMS Features queen size beds, and bathrooms containing a deep bath enabling guests to immerse themselves in the tranquil atmosphere and relax. French doors open to verandahs providing guests with fantastic Hunter Valley views. SUPERIOR ROOM - 8 ROOMS With King Size beds, their own private lounge area, and bathrooms containing deep baths, the Superior Rooms are without doubt one of the finest accommodation options in the Hunter Valley. French doors open onto large verandahs with stunning views over the estate.
The Brigidine room features polished timber floors, as well as a tasteful breakout lounge area. The separate building is particularly well presented, having been refurbished recently. The property also currently features the Grand Marquee. A semi-permanent structure which can provide seating for up to 150 guests, the marquee opens to the side to enjoy those beautiful Hunter Valley Spring and Summer nights.
OCCUPATIONAL DETAILS Currently Peppers/Mantra have a marketing services agreement with the property. The following fees apply: LICENCE FEE 2% of gross revenue ($36,000 minimum entitlement) MARKETING SERVICES LEVY 1.5% of gross revenue ($30,000 minimum entitlement) OTHER FEES Other fees and commissions apply COMMENCEMENT April 2010 PERIOD 10 years with 2 options of 5 years (exercisable by Peppers) TERMINATION Subject to the payment of a fee
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PEPPERS CONVENT
CONFERENCE LAYOUT - THE BRIGIDINE ROOM
GRAND MARQUEE
130 TEA ROOM 20 50
DANCE FLOOR
150 CONFERANCE ROOM
60 1800
30
KITCHEN
FINANCIALS 2010 ACTUAL
2011 ACTUAL
2012 ACTUAL
YTD APR 2013 ACTUAL
OCCUPANCY (%) AVERAGE ROOM RATE ($) REV PAR ($)
37.3% $ 310.62 $ 115.72
44.2% $ 284.58 $ 125.78
63.7% $ 190.20 $ 121.10
61.4% $ 104.00
NET REVENUE ROOMS FOOD BEVERAGE OTHER F&B INCOME CONFERENCE OTHER ONCHARGES - TE OTHER INCOME
123,938 23,652 11,868 1,632 1,655 44,272 8,891
716,295 143,080 65,601 6,027 4,355 348,874 67,194
553,306 177,302 52,372 5,899
487,949 180,152 36,979 4,964
241,793 8,408
351,351 21,814
TOTAL NET REVENUE
215,908
1,351,425
1,039,080
1,083,208
79,946
24,642
110,745
118,541
GROSS OPERATING PROFIT
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ROBERT’S RESTAURANT
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ROBERT’S RESTAURANT
Set in one of Australia’s premium wine regions, Robert’s Restaurant is the perfect choice when seeking out the best that the Hunter Valley has to offer in fine food and wine.
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ROBERT’S RESTAURANT
PROPERTY SUMMARY
INVESTMENT HIGHLIGHTS
PROPERTY DESCRIPTION
Built in 1876 Robert’s Restaurant is situated in the stunning grounds of Tower Estate and is one of the Hunter Valley’s most iconic and treasured restaurants.
REPUTATION One of the Hunter Valley’s most iconic restaurants, Robert’s Restaurant has earned and held its position amongst the most well regarded restaurants in the Hunter Valley for two decades.
The restaurant itself is in two adjoining structures; an original heritage ironbark cottage that has been restored and renovated, and the larger main dining building which was erected in 1995.
LOCATION Located in the centre of the Hunter Valley’s most well-known property, the restaurant is surrounded by manicured grounds, herb and produce gardens, and views overlooking the Robert’s vineyard and Welsh Baptist Chapel.
Seating 120 guests, the property also includes an extensive commercial kitchen to suit the requirements of any of Australia’s top chefs, a number of small sheds for storage and supplies, the chapel, as well as the vineyards which form the main view from the dining area.
PRESENTATION Robert’s Restaurant exemplifies the very best of the modern Australian dining experience. The rustic Australian heritage style exterior and interior provide an ambience perfectly suited to the country’s leading wine region.
ORIGINAL COTTAGE Fully fitted with period furniture and attractively decorated with a rustic historic Australian homestead feel, the original cottage features a private dining room to seat 14 people, with a smaller room to provide a private dining experience for a party of four.
Robert’s Restaurant features a lounge area furnished with magnificent antiques where guests can relax with a pre-dinner drink, three private dining rooms including a dedicated wine room and main dining area surrounded by Tower Estate vineyards.
MAIN DINING ROOM Undoubtedly one of the finest dining areas in the Hunter Valley, the main building is typical of the Australian homestead theme, with hardwood timber, exposed beams, period furniture, and various prints and pieces which add to the ambience of the dining room.
CHAPEL Originally built in 1888, this Welsh Baptist Chapel has been lovingly restored. It is often used as a venue for wedding receptions. Fully equipped with a kitchen, bathroom, air conditioning, and separated from the restaurant with rows of vines, the Chapel is a valuable addition to the property which already entertains a strong level of wedding business. APPROXIMATE BUILDING AREAS MAIN RESTAURANT & ADJACENT COTTAGE
539 sqm
VERANDAH
112 sqm
CHAPEL
108 sqm
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ROBERT’S RESTAURANT
CONFERENCE LAYOUT - ROBERT’S RESTAURANT
THE CHAPEL
VERANDAH 110
40
90
50
40
29
MAIN DINING
150
60
26
24
CHAPEL
FINANCIALS 2009 ACTUAL
2010 ACTUAL
2011 ACTUAL
2012 ACTUAL
YTD APR 2013 ACTUAL
22,389 $ 105.46
20,660 $ 100.46
20,532 $ 118.14
17,927 $109.70
19,323 $ 101.25
NET REVENUE ROOMS BEVERAGE FEE INCOME - CEREMONY EQUIPMENT HIRE DISCOUNTS OTHER INCOME
1,685,240 631,269 1,882 14,463 2,072 30,265
1,477,613 522,517 7,275 8,095 76,269
1,668,112 673,215 5,837 27,071 21,103 72,449
1,340,281 554,293 26,227 52,584 36,595 29,888
1,410,979 546,069 23,706 23,484 52,220 4,420
TOTAL NET REVENUE
2,361,047
2,075,579
2,425,580
1,966,678
1,956,438
39,498
(213,443)
143,559
8,975
(219,883)
NO. OF COVERS AVERAGE SALE PER COVER ($)
GROSS OPERATING PROFIT
43 I N FOR MATION M E MORAN DU M
SITE & LEGAL
ADDRESS
LEGAL DESCRIPTION
Cnr Halls and Broke Roads, Pokolbin, NSW 2320
BUSINESS
DP
LOT
ADDRESS
AREA (Ha)
SITE AREA
WINERY & LODGE
755252
55
6 Halls Road
16.190
PEPPERS CONVENT
270071
6
Halls Road
1.593
PEPPERS CONVENT
270071
8
Halls Road
1.360
ROBERTS RESTAURANT
270071
10
64 Halls Road
1.554
SERVICES
ROBERTS VINEYARD
270071
11
66 Halls Road
0.478
Services available include electricity and telephone, town water, on-site sewerage and gas
TOTAL
21.175 total hectares for Tower Lodge & Tower Estate Winery, Robert’s Restaurant, and Peppers Convent
LOCAL GOVERNMENT AREA OF CESSNOCK PARISH OF POKOLBIN COUNTY OF NORTHUMBERLAND STATE OF NEW SOUTH WALES
21.175
44
SALES PROCESS
Expressions of Interest are to be submitted by email to the agents listed, or at the offices of CBRE Sydney and/ or Jurd’s Real Estate, marked to the attention of the exclusive agents that are listed on the introduction page.
Potential purchasers’ written information should include reference to:
• The total price in Australian Dollars, to be paid in cash on completion, for the Tower Estate, Tower Lodge & Tower Estate Winery, Peppers Convent, and/or Robert’s Restaurant. • The basis on which the price is offered and assumptions made in arriving at the offered price.
The properties are offered either ‘in-one-line’ or individually.
• The principal conditions to which any offer would be subject, including details of corporate, shareholder, regulatory or other approvals required, if any.
Potential purchasers are requested to communicate their interest in the form of a non -binding, preliminary written indication of interest to CBRE Hotels and/or Jurd’s Real Esate.
• The names, addresses and contact numbers of the key transaction personnel. • Details of the offering vehicle or entity and identity of principal involved. • The names, addresses and contact numbers of any advisors. • Under no circumstances should employees of Tower Estate, Tower Lodge & Tower Estate Winery, Peppers Convent, and/or Robert’s Restaurant be contacted in connection with this Information Memorandum or the proposed Transaction.
DISCLAIMER FOR INFORMATION MEMORANDUM
GENERAL
This information memorandum (“IM”) has been prepared
assessment, investigation and appraisal. Any statement
out of the information including, without limitation, any
The information set out in this document has been prepared
by CBRE Hotels (“CBRE”) and is prepared on the basis of
or opinion of CBRE whether express or implied is not, nor
errors, misrepresentation or omissions. CBRE disclaims all
using information derived from a variety of external
information provided to CBRE in connection with the relevant
should be construed as a recommendation by CBRE or
responsibility for any loss or damage caused by reliance
sources. CBRE does not warrant the accuracy of any of
transaction. Any statement or opinion made by CBRE in
any of its officers, agents or employees to participate in the
by any person on this IM or any representation, warranty or
the information and does not accept any legal liability or
connection with the transaction contemplated in the IM is not
transaction and, to that ex tent, no reliance will be placed
statement made by or on behalf of CBRE and its associates.
responsibility for any injury, loss or damage incurred by the
based on any actual or implied knowledge or consideration of
on CBRE or its associates. CBRE and its associates do not
This IM is confidential and is for the sole use of persons
use of, or reliance on, or interpretation of the information
the investment objectives, financial situation, legal or taxation
warrant (expressly or impliedly) that information contained in
directly provided with it by CBRE and is not to be reproduced,
contained herein.
position or any other particular needs or requirements of
this IM is complete, true and correct and not misleading or not
copied or sent to any other person without the prior writ ten
the recipients of this IM. All par ties must make their own
likely to be misleading or deceptive. CBRE and its associates
consent of CBRE. The use by, or reliance upon this document
independent assessment and investigation including without
are not responsible and will not under any circumstances be
by any other person is not authorised by CBRE and without
limitation, seeking professional advice and must determine
liable (whether at law, in equity, under statute or otherwise)
limitation to the above disclaimers, CBRE is not liable for any
its interest in proceeding upon the basis of such independent
for any statement made or anything contained in or arising
loss arising from such unauthorised use or reliance.
FOR FURTHER DETAILS ABOUT THIS OFFERING, PLEASE CONTACT THE AGENTS LISTED:
ROB CROSS Regional Director
PAUL KAPIRIS Negotiator
ALAN JURD Principal
CBRE Hotels T: +61 2 9333 3427 M: +61 408 418 306 E: rob.cross@cbre.com.au
CBRE Hotels T: +61 2 9333 3549 M: +61 418 853 373 E: paul.kapiris@cbre.com.au
Jurd’s Real Estate P: +61 2 4991 4000 M: +61 417 677 924 E: alanj@jurds.com.au