National Hotel Sells for Little Over Half Million

Tuesday, December 18, 2007 03:23 PM

Prince George, B.C - It only took 20 minutes, and the National Hotel, a fixture on First Avenue in Prince George, was going, going, gone......sold at auction for $550 thousand dollars.

The hotel was up for ac ution today at the Ritchie Brothers Auction. It was the third major Prince George area landmark to be offered at Ritchie Borthers in two years.

A year ago, the Moose Springs resort sold to an Alberta buyer for $650 thousand. Last July, the Loghouse Restaurant and it`s eleven acres on Tabor Lake, sold to a local buyer for $875,000.

The National had been assessed at more than $600 thousand as it has a 56 seat restaurant, nightclub, 32 rooms, and a cold beer and wine store licence.

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Posted on Tuesday, December 18, 2007 03:23 PM in News by 250 News

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Comments

Posted by: Jigga on December 18 2007 10:08 PM

so who bought it then?

Posted by: YamaDooPolCat on December 18 2007 10:22 PM

Does sound like there was much interest.

Posted by: lunarbase on December 18 2007 11:06 PM

Now this building should have been the New Friendship Lodge instead of building a whole new complex in a residential neighborhood. A few million in renovations and it would be a great facility !

Posted by: Runner46 on December 18 2007 11:10 PM

kan yah heer the H Two OH bubbling up in the basement?

Posted by: owl on December 19 2007 12:28 AM

If I am not mistaken, that was the first pub in the city that spent a considerable amount of money to provide a very nice interior design. I think it was around $300,000 some 20 years or so ago.

It was one of the places that would regularly see lineups to get in on the weekends, the same as the Cadillac and the Generator and on occasion the Rum Jungle do these days.

Then they tried to do the same with the restaurant. In some ways a second version of Rick's Grill.

Interesting to see how local fads change over time.

Posted by: Andyfreeze on December 19 2007 8:34 AM

You right owl!
It was a great place 20+ years ago with top bands,good food, and lots of fun.
They did a hell of a job when they re-decorated it too!
Nothing around like it.
You do have to wonder what changes over the years to allow it to come to such end?
Those walls could tell some tales I'll bet!

Posted by: giterdun on December 19 2007 10:35 AM

SOME OF US WOULD JUST AS SOON NOT HEAR THOSE WALLS SPEAK. OLD BAR ROOM WALLS HAVE BEEN KNOWN TO TELL LIES. LOL! MERRY CHRISTMAS EVERYONE AND A HAPPY NEW YEAR.
GITERDUN AND ENJOY DOIN IT!

Posted by: Eagleone on December 19 2007 10:54 AM

It'd make a good brothel location. They could compete with the casino's for business.

Posted by: Death to Socialism on December 19 2007 11:20 AM

Bars & pubs just aren't a license to print money like they used to be. Pubs seem to being having a lot of trouble keeping their doors open these days.

Posted by: metalman on December 19 2007 2:04 PM

Somebody got a steal, methinks. I betcha they could make that 550K back in a couple years of profits.
metalman.

Posted by: Andyfreeze on December 19 2007 4:05 PM

I agree metalman...this could still be a viable business with the right managment.

Posted by: YamaDooPolCat on December 19 2007 5:37 PM

Well there's a couple people (Andy and Meman) that don't know anything about the business today.

It would make a good brothel location though. Just need the NDP back in power to legalize it.

Posted by: metalman on December 19 2007 5:43 PM

Meman here, I'll be the first to admit that I do not know anything, can you show us how it is done, YaDoPoCa? And obviously you don't know nothin' about the brothel business, there is not enough parking!
Those cathouses in Nevada have huge parking lots; oops, I mean I heard that from someone.
metalman ;)

Posted by: Harbinger on December 19 2007 7:21 PM

How about Rafters pub in College Heights? Yer doc gonna be moving in there? Inquiring minds wanna know.

Posted by: Andyfreeze on December 19 2007 8:46 PM

Now that's odd Yama...I spent half of my working life in business for myself...did ok too,or so I thought...even managed to retire early...
If I had realized I didn't know what I was doing...I never would have done it!
:-)

Posted by: Runner46 on December 19 2007 10:26 PM

Andy, that is the problem.....right!
Nobody in business knows what there doing. Just the people on the sidelines.

Posted by: Andyfreeze on December 20 2007 7:42 AM

good point runner!

Posted by: metalman on December 20 2007 10:24 AM

Hee hee hee, I like it Runner! That is so true! And that 'knowledge' gained from years of observation goes so well with 20/20 hindsight. Hey, I might have an opinion or three that others disagree with, but this IS a quasi democracy, isn't it?
metalman.