JLL Hotels & Hospitality Group announce the successful sale and settlement of the New Crown Hotel in Hay NSW. The venue was sold on behalf of long-term owner Sam Watts who closes the chapter on an extraordinary tenure of 36 years.

The New Crown Hotel was sold via an on-market private treaty process with interest garnered from proximal hoteliers and private operators alike. The venue comprises of impressive pub fundamentals, including twelve Band 3 (red zone) gaming machine entitlements, ten accommodation rooms (eight of which are ensuited), two independent managers flats, expansive beer garden, 2am hotel licence and impressive bar and bistro areas. The hotel is positioned on a handsome landholding of 1,782sqm which includes a convenient on-site carpark. Complimenting the existing hotel infrastructure is an approved DA to reconfigure the gaming room and public bar area.

The deal was negotiated by JLL specialist hotel brokers Greg Jeloudev and Kate MacDonald who received interest from a range of diversified parties.

Mr Jeloudev notes “The New Crown Hotel has all the enviable traits of a well-rounded hotel asset, being gaming, F&B and accommodation. The venue is protected by strict legislative measures, which safeguarding the successful purchaser against any further competition. Assets such as the New Crown Hotel will continue to be highly sought whilst such protective covenants remain in place.”

The township of Hay is positioned within the highly fertile Riverina region of south-west NSW being 267km from Wagga Wagga. Hay is the administrative centre for the area and benefits from an established agricultural economy, in particularly cropping, beef and wool production. The region is also set to benefit from the Southwest Renewable Energy Zone in which the NSW government has dedicated $78.9m to support the development of this initiative.

The announcement of the New Crown Hotel sale exemplifies the continued momentum in the NSW regional hotel market, with JLL currently marketing the White Lion Hotel in Deniliquin, and the Light Horse Hotel in Harden, both of which are being well received.

JLL Hotels & Hospitality Group sincerely thanks the Mr. Watts for entrusting the firm with this important mandate and congratulate the respective purchaser on their new acquisition. For further information regarding this sale, including a copy or the sale analysis, parties are encouraged to contact the undersigned agents.

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