The Hotels Team of Savills Australia and New Zealand are delighted to announce the sale of another NSW north-coast asset – the Pottsville Tavern – situated right in the centre of the town bearing the same name.

Positioned on a substantial 8000sqm block, the hotel enjoys strong revenues across food, bar, and retail with its valuable holding of 15 PME’s under-writing an already strong, consistent trading numbers.  With the added bonus of passive rental returns from its commercial tenancies, the Tavern offers its new owners a very strong platform to take the property to the next level.

Long time owners, the Polglase family, led by popular patriarch Les and son Scott, entrusted the sales process to Joseph Wing and Nick Butler of Savills, with the pair conducting a targeted off-market campaign.

The expansive operation piqued the interest of a number of qualified buyers, with the ultimate purchaser excited to add the asset to their portfolio.

Vendor Scott Polglase said: “Thanks to Nick Butler and Joseph Wing for their professional approach in achieving our off market sale of the Pottsville Tavern. Their dedication throughout the entire process from our initial meeting to the sale of the tavern has been much appreciated and assisted us greatly with the information and data we needed to make the final decision to sell”

The deal represents a breakthrough sale for Joseph Wing from the Savills Brisbane office, stating, It was a pleasure representing The Polglase family throughout the off market process. Both Les & Scott have delivered a tremendous service to local patrons of the town. This transaction reflects the demand for northern New South Wales hotels which shows no signs of slowing down.  I wish the best for the Polglase family, and appreciate the opportunity to be a part of this significant transaction”,

It’s been a busy 12 months for Nick Butler on the NSW North Coast, having sold the Illawong Hotel in Evans Head (Laundy / Tindall / Short); The Harwood Hotel (O’Hara Hotels); The Broadwater Hotel (Momento Hospitality); and the Federal Hotel in Alstonville twice in that time.  “These large coastal assets, especially so close to the QLD border, remain incredibly attractive to established operators as well as new entrants to the space.  The yield achieved in this sale reflects what we’d typically expect in the sale of large metropolitan assets with a full threshold of gaming machines.  The residents of Pottsville have a lot to thank the Polglase family for – including their choice of buyer who will no doubt continue their impressive legacy”.

To request a sales analysis and or discuss other off-market opportunities in the region please contact Joseph Wing and Nick Butler of Savills, via the below contact details.