HTL secures record hotel sales along NSW North Coast

The Victoria Hotel in Wagga Wagga, NSW

A string of record sales on the NSW North Coast has resulted in a number of hotels and pubs selling through the commercial market.

Specialist real estate agency HTL Property has overseen a number of sales, many of which have not been made available to the market in over a decade.

Over the course of June, the company sold the Port Macquarie Hotel to an established hotelier, sold the Beaches Hotel in Merewether for a record price, the Caves Beach Hotel, the Beaufort Hotel and most recently the Manning River Hotel in Taree NSW.

An aerial view of the Manning River Hotel in Taree, NSW

This does not include similar sub-metro assets that were recently sold, including Kelso, Thomas Blamey and the Victoria Hotel in Wagga Wagga and the sale of the North Nowra Tavern.

According to HTL Property National Director Dan Dragicevich, the sale of the Manning River Hotel in Taree was the first time the asset has been offered to market in over 16 years.

“Having recently sold a number of Newcastle and Hunter Region hospitality assets, we enjoy a contemporary view on how the market is responding to high quality assets in that region,” Mr Dragicevich said.

“Couple this point with the fact that leased pub investments are typically scarce products across the national landscape, and we anticipate firm local and interstate interest in an asset that enjoys the strong fundamentals they exhibit.”

The Sunnyside Tavern in Broadmeadow.

In the case of the Port Macquarie Hotel, the pub has been the focal point of the community and sold after 11 years of ownership by the Taphouse Group for an undisclosed record price.

For the Manning River Hotel in Taree, it was the community’s best performing gaming venue that included a 22 room motel, 63 off-street parking spots and sprawls across 5,000 sqm of land.

HTL Property Director Sam Handy says that entertainment and hospitality venues will continue to be the focal point for the company.

“Interest in our public EOI process last month drew activity from a national investor landscape, and highlighted the magnetism of multi-revenue faceted hotels in key geographical areas along Australia’s east coast,” Mr Handy said.

“The materiality of these sales of nationally recognised hospitality businesses speaks to both the market confidence and patent quality on offer.”
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