Gunnedah Hotel for sale
A view of the courtyard.
The Gunnedah Hotel is up for sale.
Situated in the heart of one of the fastest growing agricultural centres in NSW, the pub has been brought to market following approaches from investors looking to secure the freehold property.
Listed by JLL Hotels Vice President Kate MacDonald and Executive Greg Jeloudev, the hotel is situated on a 3,000 sqm corner lot at 298 Conadilly St, in the heart of Gunnedah. It features 28 refurbished accommodation rooms, 12 gaming machine entitlements and approval to operate until 3am.
A street view of The Gunnedah Hotel NSW
According to Ms McDonald, the hotel has 1,2000 sqm of under-utilised land which can be further developed to accommodate the population that has grown over the past decade.
“The Gunnedah Hotel provides a legitimate run-up-start for an investor looking for regional assets that tick all the boxes for success, including quality of the building, accessibility, gaming entitlements, accommodation, land size, and operational upside,” Ms McDonald said.
“This campaign will be hotly contested due to the scarcity of quality on-market regional opportunities and the appeal of the location, which has grown considerably in population over the past decade.”
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Stunning bush estate with its own private runway
. It features 28 refurbished accommodation rooms
The Gunnedah Hotel is for sale via Expressions of Interest until the 22nd September (unless sold prior).
Earlier this year, HTL Property sold off the Parkview Hotel in Gunnedeh for $5.5m to an established hotelier who holds hotel interest in the Hunter Region.
“The price achieved was in line with our Vendor’s expectations, and is representative of the underlying asset value of the gaming machine entitlements, the land, and the quality brick building as distinct from a yield-based valuation metric” HTL Property’s Xavier Plunkett said at the time.
The Park View Hotel in Gunnedah sold in May this year for $5.5m.
“The successful Purchaser was attracted to a combination of the passive rental income; the underlying asset value of the land and poker machine holdings; the ‘high street’ locality, and geographical proximity to key commercial assets in Gunnedah,”
“In addition, the positive economic sentiment in the region on the back of the $15bn Inland rail, the $3.6bn Pilliga Gas project and a booming agricultural sector also added considerable magnetism.”
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