Freehold Going Concern Interest in the Royal Hotel Armidale sold to local hoteliers Tom and Harley Payne, through HTL Property agents Xavier Plunkett and Andrew Jolliffe.

“This was a very deliberate strategic acquisition by the Payne family, who also own the St Kilda and separately recently acquired the Grand Hotel through HTL Property. The addition of the Royal Hotel consolidates the family's stronghold as the largest pub property holders within the major regional city” commented HTL Property's Xavier Plunkett.

The striking Art Deco Hotel includes a public bar, sports bar and TAB, gaming room with 16 Poker Machine Entitlements, commercial kitchen, large bistro with seating for over 100 patrons, 18 Accommodation rooms, 3-bedroom Manager’s flat, and a freestanding bottle shop all operating on a highly desirable late-trading 3am licence.

The impressive building is a brick constructed 2 storey Hotel which occupies a large 1,836sqm* site, complete with 30 on-grade carparks strategically located in the commercial core of Armidale.

"Vibrant sub-metro markets such as the New England are high on the list of investors who have readily identified the diversified income enjoyed by the region, and the prospect for population led growth as migration to regional centres continues to gain momentum" added HTL Property Managing Director, Andrew Jolliffe.

The successful Vendor was the privately owned DB Pubs Pty Ltd, which acquired the hotel in 2020. The group had made the decision to divest the asset and to re-focus on core assets closer to the diversified group’s hospitality operating headquarters in the Hunter Valley.

The wider New England is consistently one of the more desirable regional markets for hoteliers. Accordingly, HTL has transacted over 25 hospitality assets within the region in the past 3 years and remain grateful to have rolled our previous success into a very strong divestment outcome for our valued clients at the Royal Hotel” concluded Plunkett.

HTL Property has transacted over $225 million worth of New England Region hospitality assets and enjoys a 95% market share within the region.

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HTL Property - Third Armidale Freehold Hotel sold to local hoteliers Tom and Harley Payne