Australian Hotel Wingham and Royal Hotel Taree sold
Contact
Australian Hotel Wingham and Royal Hotel Taree sold
JLL Hotels & Hospitality Group announced the sale of both the freehold going concern interest in the Royal Hotel Taree and the freehold interest in the Australian Hotel Wingham sold. The double sale was negotiated by Vice President Kate MacDonald who worked alongside Leonard Bongiovanni and Jeremy Cusack of Manenti Quinlan.
-
JLLRoyal Hotel Taree sold. The double sale was negotiated by Vice President Kate MacDonald who worked alongside Manenti Quinlan. -
JLLAustralian Hotel Winghamm sold. The double sale was negotiated by Vice President Kate MacDonald who worked alongside Manenti Quinlan.
JLL Hotels & Hospitality Group announced the sale of both the freehold going concern interest in the Royal Hotel Taree and the freehold interest in the Australian Hotel Wingham sold. The double sale was negotiated by Vice President Kate MacDonald who worked alongside Leonard Bongiovanni and Jeremy Cusack of Manenti Quinlan.
Located on the banks of the Manning River, the Royal Hotel was half underwater only four weeks ago, but this devastating act of nature had little to no impact on the continued growth of the region, and the pub. The Royal is the highest ranked NSW hotel with 12 machines, turning over circa $5,500,000 in the March quarter alone.
A syndicate of publicans led by Nicholas Quinn are the proud new owners who have also strategically purchased the freehold interest in the Australian Hotel in neighbouring Wingham. This passive investment serves the syndicate well for long term play in the region. The Aussie is the only pub in Wingham, a town of over 5,000 people, and includes 13 valuable GMEs.
Nick said “we have loved the area for a while and the sense of community which was on full display over the last month. We are looking forward to being a part of that. I have family in the area too, so it felt right”.
MacDonald added “these guys are proven operators and will do well in Taree. The region is incredibly resilient and robust and will benefit enormously from having experienced publicans embrace the community and be a part of its growth story.”
“We thank our vendors, the McAuliffe and Powell families for allowing us to act on their behalf and divest these important assets, and we congratulate the incoming owners who are excited to take the keys later this year.”
This is JLL Hotels’ fourth regional sale in seven days amounting to a total transaction value of over $25,000,000, with more announcements to come.
The double sale was negotiated by Vice President Kate MacDonald who worked alongside Leonard Bongiovanni and Jeremy Cusack of Manenti Quinlan to secure a strong result for both private vendors.
To request a copy of the Information Memorandum please email either of the selling agents via the contact forms below.
