The freehold interest in the Royal Hotel Adelong sold by JLL Hotels Executive Greg Jeloudev via a private treaty process. The Royal Hotel sold to local hotelier group Sorella.
JLL Hotels & Hospitality Group is delighted to announce the successful sale of the freehold interest in the Royal Hotel, Adelong, New South Wales.
The venue was sold on behalf of long-term owners Angelo Vardanega and James Nugent who viewed the buoyed market as an opportunistic time to divest.
The hotel occupies a 2,023sqm site on a prominent corner position directly opposite the Snowy Mountains Highway. Boasting excellent exposure, the venue enjoys flexible RU5 Village zoning and includes 2 valuable gaming machine entitlements.
JLL Hotels Executive, Greg Jeloudev, facilitated the transaction which was conducted via a private treaty process. The venue was sold to local hotelier group Sorella, who add the Royal Hotel to their growing portfolio which includes the Wade Hotel in Leeton and the Australian Hotel in Yass.
Mr Jeloudev noted, “Stock shortages and the diminishing availability of gaming machine entitlements continue to drive capital values in regional NSW. This will continue for 2021 and well into 2022. Being local hospitality operators, the acquisition of the Royal Hotel is a natural fit for the team at Sorella.”
The sale of the Royal Hotel is the third venue recently sold by JLL Hotels & Hospitality Group in the area, which follows the sales of the Royal Hotel in Tumut, the Star Hotel in Tumut, and Gordon’s Hotel in Goulburn.
JLL thanks the vendor’s family for entrusting the firm with this important mandate and congratulate the purchaser on their new acquisition.
To request a sales analysis please contact the selling agent JLL Hotels Executive, Greg Jeloudev, via the below contact details.