JLL Hotels & Hospitality Group announce the sale of the freehold going concern interest in the Royal Hotel, Scone. The pub was sold on behalf of Kelly & Co Hotels, led by popular publican Rodney ‘Ned’ Kelly who is looking to consolidate his portfolio in 2023 to focus on bigger projects on the NSW Coast.

The opportunity was offered to market via an on-market Expressions of Interest process, with interest garnered from proximal operators and larger syndicates alike. The successful purchaser is an established group in the Hunter Valley looking to expand in the region.

The Royal Hotel is a true all-round hospitality asset, boasting a single bar operation, various dining areas, and a weather-proof beer garden. Further pub infrastructure includes 10 refurbished motel suites, 19 first floor pub-style accommodation rooms, and 9 gaming machine entitlements. Complimenting the inherent features of the property, the hotel was also sold with an approved development application allowing the construction of a new gaming lounge on the northern boundary.

JLL Vice President Greg Jeloudev, Executive Edward Browne, and Senior Vice President Kate MacDonald were exclusively appointed to manage the campaign. Mr Jeloudev noted, “The location and inherent features of the hotel were the ultimate drivers in facilitating a sale outcome. An extremely varied buyer pool emerged from the process, including new market entrants, established hoteliers and larger hospitality groups seeking exposure to the Upper Hunter Region. Ned has provided solid foundations for the successful purchaser, and with the approved DA, has established a blueprint for success to maximise the earnings of this hotel.”

Scone is affectionately known as the horse capital of Australia and is the administrative location of the Upper Hunter Shire. The region enjoys strong local economic drivers, including agricultural production, mining and renewable energy. The Upper Hunter is expected to grow by 100,000 by 2041, with substantial projects including The Upper Hunter Energy Park ($165m project), The Hunter Regional Transport Plan 2041 and the Scone Racetrack and Equine Hospital upgrade.

JLL Hotels sincerely thanks Kelly & Co Hotels for entrusting the firm with this important mandate and congratulates the successful purchaser with their new acquisition.

To request a sales analysis please contact the selling agents JLL Vice President Greg Jeloudev, Executive Edward Browne, and Senior Vice President Kate MacDonald, via the below contact details.

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