Having been exclusively engaged by Iris Capital, MQ & Associates, in conjunction with Moore & Moore Real Estate, recently brokered the successful sale of two high-profile hotels in regional New South Wales.

The Kearsley Hotel and Condobolin’s Royal Hotel are classic two-storey venues offering 15+ accommodation rooms and impressive street presences on major regional thoroughfares.

“These sales were thoroughly rewarding transactions which saw the return of two iconic venues to enthusiastic local operators,” said Moore and Moore. 

“Both purchasers were extremely familiar with the hotels and are excited to have the opportunity to further capitalise on their potential. The buyers intend to refurbish and upgrade The Kearsley and The Royal and return them to their former glory as regional favourites,” said Manenti Quinlan’s Leonard Bongiovanni.

Sam Arnaout, CEO at Iris Capital, commended Manenti Quinlan & Associates & Moore and Moore on achieving an above-expectations result for both sales.

“We’re pleased to have created an opportunity for forward-thinking local operators to enter the tightly-held pub market. The impressive sale prices achieved demonstrate that there’s plenty of interest in the sector,” said Arnaout.

The Royal Hotel is an Art Deco hotel in Condobolin, a town on the banks of the Lachlan River in NSW’s central west region. Purchaser Max Jones and his family have lived in Condobolin for generations and are eager to create a refreshed hospitality offering that serves the community’s needs.

“The Royal is an important part of our CBD and town. It’s a beautiful Art Deco building rich with original features, and we’re committed to restoring it thoughtfully. We’re taking feedback from locals to ensure that the reinvigorated Royal is relevant and able to meet its potential,” said Mr Jones.

Mother-daughter buyers Christine Iwaszkiewicz and Katerina Skarbek purchased the Kearsley Hotel, a historic venue boasting a high-profile position in the town centre. They plan to strengthen The Kearsley’s appeal by undertaking capital works to create a more comfortable experience for locals and visitors.

“The hotel is a lovely, classical old lady with great bones and beautiful period features – but she could do with a facelift,” said Ms Iwaszkiewicz. “We’re looking forward to creating an appealing space for locals to come together and people on their way to the Hunter Region’s vineyards to stop for a coffee.”

The sale of the Kearsley Hotel follows a string of recent sales in the Hunter Region brokered by MQ & Associates and Moore & Moore Real Estate, including the Maitland’s Imperial and Family Hotels and the Railway Hotel in Cessnock.

To request a sales analysis please contact the selling agents via the below contact details.