Sale of AVC-tenanted new Albury Hotel (‘Beer DeLuxe’) presents outstanding investment opportunity
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Sale of AVC-tenanted new Albury Hotel (‘Beer DeLuxe’) presents outstanding investment opportunity
FerrierSilvia, as Liquidator Appointed has exclusively engaged Manenti Quinlan & Associates, in conjunction with D.J. May Real Estate, to market the freehold investment of the iconic New Albury Hotel (Beer DeLuxe Albury).
Built in 1939, the New Albury Hotel is a five-storey heritage-listed pub with a commanding street presence. The hotel’s architecture is a rare regional example of Bauhaus/International style, and its iconic curved facade stands tall in the heart of Albury’s CBD.
The hotel offers a large footprint of more than 2,000m2 on one of Albury’s main streets and is adjacent to West End Plaza, a major shopping centre. It boasts a blue-chip long-term tenant – the Australian Venue Co (AVC) – Australia’s second-largest pub operator with more than 165 hospitality venues nationally and a further 12 in New Zealand.
“This is a fantastic opportunity for a purchaser to buy a historic building in a prime location with a national, A-grade tenant in place. It represents a lucrative set-and-forget investment opportunity, returning $540,053 net plus GST per annum in rent, with over 17 years remaining on the lease (inc options),” said Manenti Quinlan’s Leonard Bongiovanni.
“Being extensively renovated 2014, and the New Albury Hotel presents as a thoroughly impressive, well-maintained venue. The original design of the building included lift access to the entire building including the roof, which provides further opportunity to taking advantage of the sprawling rooftop space, subject to approvals”. said Bongiovanni
The Albury-Wodonga catchment is a thriving regional area with a population in excess of 100,000 and diverse commercial and industrial sectors. 550km from Sydney and 330km from Melbourne, it’s a popular pitstop between the cities and a vibrant tourist destination in its own right. Close to the renowned Rutherglen wine region and the goldfield towns of Beechworth and Yackandandah, its location on the Murray River makes it a year-round favourite of water sports enthusiasts.
The New Albury Hotel offers attractive modern spaces including a public bar, lounge, spacious bistro with children’s playroom, extensive beer garden, outdoor gaming area and four private function spaces large enough to host major events.
The underlying asset value of the hotel’s 15 gaming machine entitlements (GMEs) is estimated at circa $4,800,000 if broken up, giving potential buyers confidence in the long-term viability of their investment. The site also offers flexible planning overlays including a B3 Commercial zone, a floor space ratio of 3:1 and a height limit of 35 metres.
“The New Albury Hotel has served the local community for more than 80 years and is an extremely popular venue under the Beer DeLuxe brand. It offers a strong foundation with all the elements astute investors seek in a premium asset,” said Doug May from D.J. May Real Estate.
“We expect strong interest from buyers seeking a freehold passive investment with a long-term A-grade tenant and strong underlying asset value,” said May.
The New Albury Hotel will be auctioned onsite on Friday, 18 March 2022.
For more information contact the agents via the contact form below.
