CBRE Hotels – Tower Estate

CONTENTS

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03 04 06

08 10 28

36 44

THEOFFERING

LOCATIONMAP

EXECUTIVESUMMARY

PEPPERS CONVENT

LOCATION

ROBERT’S RESTAURANT

TOWER LODGE & TOWER ESTATEWINERY

SITE & LEGAL /SALE PROCESS

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 ESTATE PORTFOLIO

Tower Lodge

Tower Estate Winery

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.

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.

THE PROPERTIESINCLUDE

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The properties are offered for sale ‘in-one-line’ or individually, by Expressions of Interest

Robert’s Restaurant

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Peppers Convent

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FOR FURTHER DETAILS ABOUT THIS OFFERING, PLEASE CONTACT THE AGENTS LISTED:

ROB CROSS Regional Director

CBRE Hotels T: +61 2 9333 3427 M: +61 408 418 306 E: [email protected]

ALAN JURD Principal

Jurd’s Real Estate P: +61 2 4991 4000 M: +61 417 677 924 E: [email protected]

PAUL KAPIRIS Negotiator


INFORMATION MEMORANDUM

TEMPUS TWO

POKOLBIN VILLAGE

LOCATION OF ESTATE WITHIN THE HUNTER VALLEY

WIN

E CO

UNTRY DRIVE

TO SINGLETON &UPPER HUNTER

NEW ENGLAND HIGHWAY NEW ENGLAND HIGHW

AY

OLD NORTH RD

HA

LLS

RD

TO KURRI KURRIAND NEWCASTLE

TO KURRI KURRI

TO SYDNEYVIA F3 FREEWAY

TO SYDNEYVIA SCENIC DRIVE

TO MAITLANDAND NEWCASTLE

CESSNOCK

MARROWBONE RD

WOLLOMBI RD

MAITLAND RD

ABERDARE RD

BROKE ROAD BROKE ROAD

H

ER

MIT

AG

E R

D

LO

VED

AL

E ROAD

TOWER ESTATE

MCDONALDS

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ROBERT’S RESTARAUNT

PEPPERS CONVENT

TOWER ESTATE WINERY

BLAXLAND’S INN

TOWER LODGE

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TL

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FEATURES

FEATURES

EXECUTIVESUMMARY

TOWER LODGE

TOWER ESTATE WINERY

COMPRISING • Tower Lodge & Tower Estate Winery• Peppers Convent• Robert’s Restaurant

TENUREBoth the Tower Lodge and Tower Estate Winery assets are held on the same freehold lot

TOTAL LAND AREA 16.19 hectares

ROOMS 12 luxurious individual guest rooms

DETAILS 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.

DETAILSThe 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.

RATING 5 star

TOWER LODGE & TOWER ESTATE WINERY

ESTABLISHED 1999

• 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

• 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

TOWER ESTATE

5

TL

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ESINFORMATION MEMORANDUM

DETAILSOne 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.

TOTAL LAND AREA 2.953 hectares (0ver 2 lots)

TOTAL LAND AREA 2.032 hectares (0ver 2 lots)

ESTABLISHED 1995

ESTABLISHED 1991 (main building 1995)

TENURE Community title over 2 lots

TENURE Community title over 2 lots

ROOMS 17 luxurious individual guest rooms

RATING 5 star

DETAILS 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.

• Stunning tree-lined drive to circular entry• Kitchen• Landscaped grounds• Dining room/Sunroom• Wisteria Courtyard

• Detached semi-permanent marquee• Separate conference space• Separate building• Pool• Tennis Court

• Seating for 120 people• Commercial kitchen• Vineyard• Welsh Baptist Church• Unrivalled reputation

FEATURES FEATURES

PEPPERSCONVENT

ROBERT’SRESTAURANT

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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.

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 Branxton-Toronto 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.

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.

OVERVIEW

Hunter Valley’s steady growth can be attributed to its broad base of demand generators:

TOURISMThe 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.

There are regular events held in the Hunter for visitors, including the world class concert events held at Hope Estate.

INDUSTRIESThe 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.

GROWTHThe 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.

DEMAND DRIVERS

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

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

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.

LOCATION

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LINFORMATION MEMORANDUM

MAJOR EVENTSAprilThe Gum Ball Music Festival MayLovedale Long Lunch JuneHunter Valley Wine & Food MonthSeptemberHunter Valley Gardens Festival of the FlowersOctoberOpera in the Vineyards Jazz in the VinesSpirit of the Vine Festival October/NovemberSculpture in the Vineyards November to JanuaryChristmas Lights SpectacularAll yearMusic 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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TOWERLODGE

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TOWERLODGE

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 mission- style structure is visually sympathetic to its surrounding landscape, and the level of service matches its high level of luxury.

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PROPERTY SUMMARY

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.

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.

INVESTMENT HIGHLIGHTS

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.

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.

PROPERTY DESCRIPTION

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.

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.

LOCATION

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INFORMATION MEMORANDUMTL

TOWERLODGE

ELEVATED BATH AND DRESSING ROOM. KING OR SPLIT TWIN BEDS.

OUTDOOR PATIO WITH VIEWS TO THE TOWER ESTATE WINERY

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

LODGE GUEST ROOM LODGE DELUXE GUEST ROOM ORIENTAL SUITE CHAIRMAN’S SUITE

Chairman’s

Oriental

Lodge Guest

Lodge Deluxe Guest

Chairman’s

Oriental

Lodge Guest

Lodge Deluxe Guest

Chairman’s

Oriental

Lodge Guest

Lodge Deluxe Guest

Chairman’s

Oriental

Lodge Guest

Lodge Deluxe Guest

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GUESTROOM LAYOUTS

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.

CONFERENCE SPACE

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).

LOCATION

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OCCUPATIONAL DETAILS

Currently Relais & Chateux have a membership agreement with the property.

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.

FRONT OF HOUSE 580 sqm

MANAGERS FLAT LEVEL 1 173 sqm

ACCOMODATION 741 sqm

POOL AREA 80 sqm

APPROXIMATEBUILDING AREAS


TOWERLODGE

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

GROSS OPERATING PROFIT 6,925 (340,613) 84,563 (174,057) (620,925)

50

80

24

60

20

CONFERANCE ROOM

SUN ROOM

45

50

35

110

24

LOUNGE

DINING

LOCATION

17

CONFERENCE LAYOUT - TOWER LODGE

TRADING SUMMARY

FINANCIALS


TOWERLODGE

TOWERESTATEWINERY

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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.

TOWERESTATEWINERY

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PROPERTY SUMMARY

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.


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.

An architecturally significant Hunter Landmark building which attracts retail customers

QUALITY EQUIPMENT State-of-the-art, fully equipped, 300 tonne winery with room to expand if desired.

TRADING UPSIDEPotential to restructure the business to better utilise winery space and therefore increase revenue.


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

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.


CELLAR DOOR 300 sqm

BARREL STORAGE 340 sqm

WINERY 340 sqm

REAR WAREOUSE 200 sqm

INFORMATION MEMORANDUMTW

TOWERESTATEWINERY

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2009 ACTUAL

2010 ACTUAL

2011 ACTUAL

2012 ACTUAL

YTD APR 2013 ACTUAL

CASES SOLD AVG BOTTLE PRICE ($)

7,445

$ 17.97

8,932

$ 16.79

9,089

$ 14.98

8,160

$ 14.68

4,177

$ 17.44

NET REVENUE WINE - CELLAR DOORWINE-CLUBS WINE - WHOLESALE WINE LNTERCOMPANY WINE EXPORT GONTRACT WINE MAKINGBULKFREIGHTWET OTHER INCOME

716,591 568,078 101,801 111,530 107,576

167, 03714,33542,583

19,999

582,108 437,893 430,152 126,937 145,670

3,5766,149

45,869

30,948

475,812 321,041 315,918

57,047 118,899

1,74476,866

259,9526,383

693,152 307,403 184,141

65,876 103,907

32,80032,535

17,534

372,628 272,912

74,506 65,081 59,136

9,76719,123

2,198

TOTAL NET REVENUE 1,849,530 1,809,302 1,633,662 1,437,348 875,350

GROSS OPERATING PROFIT 170,051 (673,633) (1,006,601) (729) (70,394)

25 150

40 180

15 60

50 200

12 26

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TRADING SUMMARY

CONFERENCE LAYOUT - TOWER ESTATE WINERY

FINANCIALS

INFORMATION MEMORANDUMTW

TOWERESTATEWINERY

PEPPERSCONVENT

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PEPPERSCONVENT

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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PROPERTY SUMMARY

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.


ONE OF A KIND BOUTIQUE HOTELThe 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.


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.

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

RATES

Peppers Convent luxury rate includes accommodation and breakfast:

DELUXE $267.00

SUPERIOR $288.00

ROOMSRooms 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 ROOMSFeatures 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 ROOMSWith 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.

CONFERENCE SPACE

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 FEE2% of gross revenue($36,000 minimum entitlement)

MARKETING SERVICES LEVY1.5% of gross revenue($30,000 minimum entitlement)

OTHER FEESOther 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

INFORMATION MEMORANDUMPC

PEPPERSCONVENT

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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 ROOMSFOODBEVERAGE OTHER F&B INCOME CONFERENCE OTHER ONCHARGES - TEOTHER 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

348,87467,194

553,306 177,302 52,372 5,899

241,793 8,408

487,949 180,152 36,979 4,964

351,351 21,814

TOTAL NET REVENUE 215,908 1,351,425 1,039,080 1,083,208

GROSS OPERATING PROFIT 79,946 24,642 110,745 118,541

CONFERENCE LAYOUT - THE BRIGIDINE ROOM GRAND MARQUEE

CONFERANCEROOM

TEAROOM

130

150

60

1800

30

20

50

DANCEFLOOR

KITCHEN

FINANCIALS

INFORMATION MEMORANDUMPC

PEPPERSCONVENT


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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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PROPERTY SUMMARY

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.

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.


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.

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.

PRESENTATIONRobert’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.

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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.

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.

ORIGINAL COTTAGEFully 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.

MAIN DINING ROOMUndoubtedly 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.

CHAPELOriginally 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.


MAIN RESTAURANT & ADJACENT COTTAGE

539 sqm

VERANDAH 112 sqm

CHAPEL 108 sqm



41

CHAPEL

110

90

40

150

26

MAIN DINING

VERANDAH

40

50

29

60

24

2009 ACTUAL

2010 ACTUAL

2011 ACTUAL

2012 ACTUAL

YTD APR 2013 ACTUAL

NO. OF COVERS AVERAGE SALE PER COVER ($)

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 DISCOUNTSOTHER 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

GROSS OPERATING PROFIT 39,498 (213,443) 143,559 8,975 (219,883)

CONFERENCE LAYOUT - ROBERT’S RESTAURANT THE CHAPEL

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FINANCIALS



LEGAL DESCRIPTIONADDRESSCnr Halls and Broke Roads, Pokolbin, NSW 2320

SITE AREA21.175 total hectares for Tower Lodge & Tower Estate Winery, Robert’s Restaurant, and Peppers Convent

SERVICESServices available include electricity and telephone, town water, on-site sewerage and gas

BUSINESS DP LOT ADDRESS AREA (Ha)

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

ROBERTS VINEYARD 270071 11 66 Halls Road 0.478

TOTAL 21.175

LOCAL GOVERNMENT AREA OF CESSNOCK

PARISH OF POKOLBIN

COUNTY OF NORTHUMBERLAND

STATE OF NEW SOUTH WALES

SITE & LEGAL

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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.

The properties are offered either ‘in-one-line’ or individually.

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.

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 principal conditions to which any offer would be subject, including details of corporate, shareholder, regulatory or other approvals required, if any.

• 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

MEMORANDUMThis information memorandum (“IM”) has been prepared

by CBRE Hotels (“CBRE”) and is prepared on the basis of

information provided to CBRE in connection with the relevant

transaction. Any statement or opinion made by CBRE in

connection with the transaction contemplated in the IM is not

based on any actual or implied knowledge or consideration of

the investment objectives, financial situation, legal or taxation

position or any other particular needs or requirements of

the recipients of this IM. All par ties must make their own

independent assessment and investigation including without

limitation, seeking professional advice and must determine

its interest in proceeding upon the basis of such independent

assessment, investigation and appraisal. Any statement

or opinion of CBRE whether express or implied is not, nor

should be construed as a recommendation by CBRE or

any of its officers, agents or employees to participate in the

transaction and, to that ex tent, no reliance will be placed

on CBRE or its associates. CBRE and its associates do not

warrant (expressly or impliedly) that information contained in

this IM is complete, true and correct and not misleading or not

likely to be misleading or deceptive. CBRE and its associates

are not responsible and will not under any circumstances be

liable (whether at law, in equity, under statute or otherwise)

for any statement made or anything contained in or arising

out of the information including, without limitation, any

errors, misrepresentation or omissions. CBRE disclaims all

responsibility for any loss or damage caused by reliance

by any person on this IM or any representation, warranty or

statement made by or on behalf of CBRE and its associates.

This IM is confidential and is for the sole use of persons

directly provided with it by CBRE and is not to be reproduced,

copied or sent to any other person without the prior writ ten

consent of CBRE. The use by, or reliance upon this document

by any other person is not authorised by CBRE and without

limitation to the above disclaimers, CBRE is not liable for any

loss arising from such unauthorised use or reliance.

GENERAL The information set out in this document has been prepared

using information derived from a variety of external

sources. CBRE does not warrant the accuracy of any of

the information and does not accept any legal liability or

responsibility for any injury, loss or damage incurred by the

use of, or reliance on, or interpretation of the information

contained herein.

SALESPROCESS

44

FOR FURTHER DETAILS ABOUT THIS OFFERING, PLEASE CONTACT THE AGENTS LISTED:

ROB CROSS Regional Director


ALAN JURD Principal

Jurd’s Real Estate P: +61 2 4991 4000 M: +61 417 677 924 E: [email protected]

PAUL KAPIRIS Negotiator


CBRE Hotels – Tower Estate

Documents

tower estate experience

tower estate winery

jurdss real estate

multiaward winning estate

quality wine

new hunter freeway link

acclaimed wine entrepreneur

recognisable wine region