The Byford Tavern in Perth’s growing south-eastern suburbs has been listed for sale.
CBRE Hotels’ Ryan McGinnity and Chloe Mason have been appointed to market the popular venue, which boasts a large bistro, sports bar, drive-thru bottle shop, TAB and alfresco area.
Positioned on a 4,313sqm corner site, fronting South Western Highway and Abernethy Road, the Byford Tavern generates an annual income of approximately $6 million. The tavern was rebuilt in 2011 after being destroyed by a fire.
CBRE’s Ryan McGinnity said the venue benefited from strong patronage being Byford’s main hotel.
“This modern tavern currently turns over in excess of $100,000 per week. Given its fantastic exposure on the corner of South West Highway and Abernethy Road, the venue will continue to achieve strong revenue as a focal point of this growing suburb,” Mr McGinnity said.
With residential developer Cedar Woods undertaking a large residential subdivision on the eastern side of South Western Highway, CBRE’s Chloe Mason said the Byford Tavern was well positioned for future growth.
“Located in Perth’s fast growing south east corridor, the Byford Tavern can only benefit from the large number of residential subdivisions currently under construction, which will add a large number of new families to the area,” Ms Mason said.
The property is being offered for sale via Offers to Purchase on a Walk In Walk Out basis.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
