JLL Hotels & Hospitality Group is delighted to exclusively offer for sale by Expressions of Interest, the highly coveted, long term leasehold interest in the Glenquarie Tavern.

Situated in the retail heart of Macquarie Fields within Sydney’s booming Southwest Corridor, the Glenquarie Tavern has been listed for sale for the first time in history being built by the private vendors in 1975 – approximately 47 years ago.

JLL Vice President Kate MacDonald and Senior Vice President Ben McDonald have been exclusively appointed to market the Western Sydney gaming asset which sits on over 5,500sqm, on behalf of the Radford and Cullen families who are seeking to capitalise on the extraordinary market conditions and end their 47-year association with the venue.

Ms MacDonald cited the huge underlying asset value that comes with ownership of the Hotel Licence and 30 GMEs being a significant drawcard for potential purchasers, along with the ability to approach the venue with a fresh operational perspective.

Ms MacDonald said, “With the enormous growth in gaming machine entitlement values and insatiable demand for these assets from the market, we are seeing prices per machine now fetching $500,000, which means the Glenquarie Tavern sale will be underpinned by $15m in hard asset value and should give the market enormous confidence in what they are buying.”

JLL Senior Vice President Ben McDonald also noted the attractive lease terms and strong retail location as being key selling points during the divestment campaign.

Mr McDonald noted, “With current passing rent reflecting only 14% of EBITDA, fixed annual increases of 2.5% and no market rent reviews, we anticipate significant depth of interest from a wide-ranging buyer pool likely dominated by astute hotelier’s seeking a gaming-centric asset in a key growth market. The ability to also capitalise on location demand drivers including the adjacent retail powerhouse, ALDI and Glenquarie Town Centre Shopping Centre anchored by Woolworths and Target will also add weight to the acquisition narrative developed by the market.”

Expressions of Interests will close on Thursday 5th May 2022, unless sold prior.

To request a copy of the Information Memorandum please contact one of the marketing agents JLL Vice President Kate MacDonald and Senior Vice President Ben McDonald via the contact details below.