JLL Hotels & Hospitality Group in conjunction with Knight Frank Australia, are excited to announce the discreet, off-market sale of the Milestone Hotel sold Dubbo, New South Wales. JLL Hotels Vice President, Kate MacDonald, alongside Knight Frank’s Mike Wheatley handled the transaction.

The hotel was sold on behalf of long-term private owners, Joanne and Neville Blair, who have been incredibly active stalwarts of the NSW hotel industry for decades.

JLL Hotels Vice President, Kate MacDonald, alongside Knight Frank’s Mike Wheatley, facilitated the transaction advising the purchaser, Sydney-based unlisted Pub Fund, Harvest Hotels (‘Harvest’), who add the Milestone Hotel to their growing stable of assets including Brady’s Railway Hotel in Albury, and the newly refurbished Courthouse Hotel in Tamworth.

Ms MacDonald noted, “The picturesque Milestone Hotel was originally built in 1881. After many years as a mixed-use property, the pub was fully restored by the family in 2005 and has become a favourite in Dubbo, one of the strongest regional towns in NSW. The acquisition further highlights the ongoing confidence in the regional pub market, where despite contracting yields, the appetite to obtain assets in unprecedented growth regions remains high.”

With more than 15 years’ experience in the hospitality industry, Founders of Harvest Hotels, Chris Cornforth, and Fraser Haughton aim to create iconic hospitality experiences in growing regional communities across Australia. They’re committed to operating the best pubs in the best towns and believe that a local pub is a vital community pillar.

Harvest Hotels Director Fraser Haughton said, “The Milestone is a high-quality building and really fits the mould for the type of pub that we operate, so it was great to work with JLL and be able to secure the venue. In time we look forward to building on the impressive footprint The Milestone has in the centre of Dubbo, but most importantly right now we look forward to taking over the reins and adding our own touches to this great pub.”

The momentum continues with JLL having many more imminent sale announcements, along with some exciting off-market exclusive appointments being discussed with our valued clients. Our ongoing sales success in meeting client objectives for long-time hoteliers across the country, is testimony to JLL’s approach in conducting business professionally, respectfully and with zeal.

To request a sales analysis please email either of the selling agents via the below contact forms: