05 Jul 2022
Words
Mandy Clarke Accommodation Properties
Australia Post’s last remaining riverboat mail run on the market
The iconic Riverboat Postman, which has been delivering mail along the Hawkesbury River for more than a century, as well as more recently regular tours, is on the market.
ResortBrokers Central Coast broker Jacqueline Featherby and Managing Director Trudy Crooks are inviting Expressions of Interest on the sale of The Brooklyn Steamship Company (BSC) – trading as Hawkesbury Cruises & The Riverboat Postman – which operates cruises and conducts official mail runs, from Brooklyn on the northern fringe of Sydney.
Aside from its weekday mail (and the odd bottle of whiskey or rum) runs to river-access-only settlements upriver from Brooklyn, BSC operates regular tour cruises, a passenger ferry service to water-access-only locations on the Hawkesbury, and Charter Cruises, including New Year’s Eve on Sydney Harbour.
Catherine Pignéguy, one of The Riverboat Postman owners, says with scarce nearby berthing facilities for potential competitors, BSC’s exclusive wharf beside the train station gives the business a strong competitive position in the long term.
“The Riverboat Postman is popular for its authenticity and enjoys repeat business and strong reviews. With a workforce of more than 28 staff, BSC is a key employer of people from the local Brooklyn community who are connected to and proud of the brand, and this is a strength of the business,” Ms Pignéguy says.
“The Dangar Historical Society has evidence of the Riverboat Postman run in 1916, while folklore is that the run started 1910, but in actual fact the post used to be brought to the river from Gosford on the overland track since the 1830s. Henry Kendall (the poet) was one of the 19th century posties and has a long history with the river.
“The Hawkesbury Steamship Company carried the mail from Sydney Harbour to the river from 1886 to 1916, when the Australia Post contract was transferred to a local operator.
“There is nowhere else on the Hawkesbury River between Windsor and the ocean other than Brooklyn where road, rail and water access all combine and harmonise.
“Our tours carry in excess of 22,000 passengers a year in our business which turns over $1.53 million annually.”
Ms Featherby says while the sale is a slight departure for ResortBrokers – which specialises in accommodation – it is an exciting special project given BSC’s long history.
“It is very rare opportunities such as the chance to own the contract on the country’slast riverboat mail run for Australia Post come on the market,” Ms Featherby says.
“Not only is the mail run and tour an incredible asset, but the value of BSC’s long term leases of the wharf, office and adjacent café/food preparation facilities needs to be understood.
“The wharf and office are under a State Government lease on a site which cannot be replicated. The café is under a long-term commercial lease.
“There is enormous potential to expand on the existing range of river cruises to all sections of the Hawkesbury River system from the Brooklyn entry point with its unique combination of road and rail access to Sydney, the Central Coast and Newcastle.”
Ms Featherby says investment highlights include:
- A leading brand/s in the industry with strong recognition
- Significant barriers for competition
- Strong prospects for increased profitability
- Valuable know how in the team
- Long standing reputation for quality and support
- Long standing relationships with customers
- Diversified income stream/ attracting different markets
- Good growth potential in all areas of operation
- Infrastructure in prime location
- Australia Post contract and State Government licence
- Well defined business processes
