George Harcourt Inn in Nicholls Hits the Market With $7 Million Price Guide

The ever-popular George Harcourt Inn in Nicholls is on the market – but before dedicated locals panic, the building and land are likely to attract investor interest as there are still many years remaining on the existing lease.

This writer also has a personal connection – I was there when the English-themed pub opened in the 1980s. Happy days!

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3 Gold Creek Road, Nicholls ACT 2913

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On the substantial landholding of more than 7000 square metres are a Tudor-style building with a public bar, bistro and kitchen, a manager’s residence, beer gardens and a large car park.

The property delivers a net income of $367,744 a year, excluding GST, with annual increases of three per cent. Under the lease, outgoings and utilities are payable by the tenant, including all non-structural repairs and maintenance.

Sam Handy of HTL Property says the George Harcourt represents a rare Canberra freehold hotel investment.

“It presents an investor with a compelling combination of stable and secure income, via an attractive lease structure and generated by a high-calibre, experienced tenant,” he says.

“The sheer size of the landholding, coupled with the term remaining on the lease, will be extremely attractive to both hoteliers and developers who may seek to optimise the site in the future.”