Newcastle Grand Hotel for sale after 30 years of private ownership by Moore & Moore and JLL
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Newcastle Grand Hotel for sale after 30 years of private ownership by Moore & Moore and JLL
Grand Hotel Newcastle for sale by JLL Kate MacDonald and Ben McDonald alongside Deane Moore of Moore & Moore.
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JLLGrand Hotel Newcastle for sale by JLL Kate MacDonald and Ben McDonald alongside Deane Moore of Moore & Moore.
JLL Hotels & Hospitality Group in conjunction with Moore & Moore Real Estate, are delighted to offer for sale the freehold going concern interest in the Grand Hotel Newcastle for sale by JLL Kate MacDonald and Ben McDonald alongside Deane Moore of Moore & Moore.
Following numerous unsolicited offers, long-term owner Mike Angus has exclusively appointed Kate MacDonald and Ben McDonald to spearhead the Expressions of Interest campaign, alongside Deane Moore.
The hotel is situated in Newcastle East, an area under significant transformation and includes a 3am trading approval, 6 gaming machines, an underutilised basement bar area and 17 ensuited accommodation rooms which have been recently refurbished.
JLL Hotels Vice President Kate MacDonald suggests, “The stunning Victorian-style corner pub, located two blocks from Newcastle Beach, provides an incoming operator with a fantastic opportunity to jump into the historically tightly-held local market, and capitalise on the continued residential and infrastructure investment surrounding the hotel.”
Situated 2 hours north of Sydney, Newcastle is the largest regional city in NSW, experiencing an enormous population surge thanks to COVID-19, along with an imposing increase in domestic tourism. This boom coupled with several long-term investment projects, including a large-scale University development across the street from the pub, places The Grand in an ideal position for re-invention after 30 years under the same tutelage.
Selling agent Ben McDonald notes the compelling investment fundamentals of the asset and current depth in buyer activity across the state.
“We continue to see heightened demand for assets in Newcastle given the proximity to Sydney, significant infrastructure investment in the region and clear lack of opportunity in the Sydney metropolitan area.”
Grand Hotel is being offered for sale via an expressions of interest campaign closing at 4pm, Thursday 15th July (unless sold prior).
To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.
