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Yet another Orange hotel is on the market
May 14, 2022
By Peter Holmes
The turnover of pubs in Orange continues, with another prime watering hole being placed on the market in recent days.
The Parkview Hotel on Summer Street has been listed with JLL in Sydney. Industry sources have told The Orange News Examiner the asking price is around $15 million.
The Parkview Hotel has a dining room, public bar, poker machine room, and accommodation, but is best-known for its astroturfed outdoor beer garden.
It is owned by the Cochrane family, and mum Narelle can often be seen doling out $15 chicken schnitzel lunch specials to hungry diners.
In recent years pubs in Orange including the Canobolas, the Royal, the Gladstone and the Robin Hood have been sold.
The Orange News Examiner recently reported on the Great Western Hotel being put on the market.
Selling agent Gary Blowes, director of Blowes Real Estate, said the Great Western would suit accommodation and restaurant use. He said the premises had 30 rooms for accommodation, but none of them had ensuites.
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According to pub industry website The Hotel Conversation the Parkview is on nearly 1,500 square metres and has 14 ensuited hotel rooms with an occupancy rate of over 80 percent There are 12 pokies and "trading approval" until 3am.
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JLL's Kate MacDonald told the website that the “vast majority of recent pub transactions in Orange have been negotiated off-market, leading to disappointment from a variety of investors vying for a chance to secure an asset in this AAA regional location.
"‘The Parky’, as it’s affectionately known, ticks all the boxes for operators looking to target food, beverage, gaming and accommodation dollars.”
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