Hotel Property Investments is eyeing the acquisition of two east coast pubs for $60 million.

Brokerage agency HTL Property has confirmed its role as exclusive negotiator for the proposed sale of Sydney’s Gregory Hills Tavern ($40 million), and Brisbane’s Acacia Ridge Hotel ($20 million)

Both hotels are being sold by the unrelated Vendors on a sale and lease back basis, indicating a long term desire by each to operate the valuable underlying businesses; whilst divesting the property component of each.

HTL Property National Pubs Director Dan Dragicevich said the agency was working with “numerous” key clients to unlock value in their hotel investments.

“This emancipation of capital can take on numerous complexions, with the creation of new leases but one alternative” he said.

Both hotels to be acquired by HPI enjoy significant state based gaming rankings, with Gregory Hills ranked 37 in NSW at last count in December 2019, and Acacia Ridge regularly featuring in Qld’s top 10 hotels.

HTL Property Director Glenn Price said the price of the Acacia Ridge Hotel was reflective of the “high regard” in which the market valued the opportunity,

The national hotel market enjoyed a record year in 2019 in terms of the consolidated transactional value, and HTL Property Managing Director Andrew Jolliffe believes 2020 is on track to surpass the level previously achieved.

“Close to $1.5bn worth of transactions were facilitated last year, and our firm has closed $200m worth of sales nationally well inside the first two months of the calendar year alone, in what is traditionally considered the more modest of the four trading quarters,” said Mr Jolliffe.

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