Changing hands for the first time since it was built in 1975, the leasehold interest in Glenquarie Tavern, Macquarie Fields has sold for a record-breaking $28,000,000 in a competitive on-market process managed by JLL Hotels & Hospitality.

Situated in the retail heart of Macquarie Fields within Sydney’s booming Southwest Corridor, the Glenquarie Tavern sits on a significant land holding of 5,574sqm. The hotel facilities include public bar, bistro, gaming room with 30 gaming machine entitlements, drive through bottle shop, outdoor terraces, and a two-bedroom manager’s flat.

JLL Vice President Kate MacDonald noted the attractive lease terms as being a key selling point during the divestment campaign along with ownership of the 30 gaming machine entitlements.

“This was an incredibly rare opportunity to acquire a family operated Top 100 gaming asset with over 25 years remaining on the lease, including ownership of the 30 gaming entitlements, with passing rent reflecting only 14% of EBITDA”, suggested MacDonald.

“We’re always delighted to assist vendors in divesting long-held assets, however, to obtain a result such as this for a AAA business in greater Sydney, is incredibly exciting for JLL Hotels and our vendors”, continued MacDonald.

The two previous record-breaking results for individual leasehold hotels in NSW were also brokered by JLL Hotels & Hospitality with the All Hands Brewing House sale on King Street Wharf in Sydney for $20,000,000 in 2020, and Fairfield’s Cambridge Tavern leasehold sale in 2018 for $18,000,000.

JLL Senior Vice President, Ben McDonald highlighted the ongoing demand in the pub sector with transaction volumes continuing to forge ahead.

“As a business JLL has transacted close to $100m in asset sales in the last week alone with almost double that at various stages of negotiation and significant new mandates on the horizon. We continue to see astute hoteliers with a long-term investment lens and a keen eye for quality pursue assets at all levels of the transaction curve.”

For more information contact the agents via the contact form below.

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The Oaks Hotel Sydney for sale by JLL

All Hands Brewing House sold on King Street Wharf Sydney for $20,000,000 in 2020 by JLL