The Midway Point Tavern is on the market for the first time in more than 40 years, offering investors the chance to buy one of southern Tasmania’s best-known hospitality venues.
The property at 2-6 Penna Road occupies a prominent corner site on the Tasman Highway, spanning more than 5,000 square metres.
It includes a bar, dining area, gaming lounge, TAB, bottle shop and a separate manager’s residence, along with around 70 car parks.
The current operator will continue running the tavern after the sale, with the property being offered with a five-year lease of the business in place.
“Certainly not as a result of this sale, no,” Elders Commercial’s George Burbury told Pulse when asked whether locals should be concerned about the pub closing.
The lease has no option to extend, meaning a future owner could explore further development subject to approvals or occupy the site themselves once it expires.
Burbury said the property’s location was one of its biggest drawcards.
“We did an analysis the other day on one of the traffic count platforms and there’s just over 150,000 cars pass the site per week,” he said.
“It’s known to be a very, very strong trading hospitality venue.”
The property returns an annual net rent of $300,000 plus GST.
Burbury said the tavern benefits from its location about 6km from Hobart Airport and 22km from Hobart’s CBD on the main route to Sorell and Tasmania’s east coast.
Significant residential growth nearby is also expected to increase activity in the area.
“Secure income, a proven hospitality trade and development upside, positioning this as a standout opportunity for investors,” the listing says.
The property is being sold by expressions of interest closing at 3pm on Thursday September 3.
