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Good times offline. a place to meet and greet and enjoy yourself.
Tocumwal – The Farmers Arms
bought for $480k in 2019 by the SOM partnership and sold a little over a year later for $220k building and $210k each pokker machine and license. Roughly $160k plus rental income and depreciation and minus interest and principal.
if we had held on to the poker machines for 3 more years they would of been worth $600k each.
It would have meant we would have had to find another leasee as the the current one did a runner. The situation was handled very well at the time by the partnership.