Harvest Hotels is expanding its operations to NSW’s Hunter Valley Region, following the purchase of The Windsor Castle Hotel in East Maitland earlier this week.

Brokered by JLL’S Ben McDonald and Kate MacDonald, the deal between Harvest Hotels and the Sean O’Hara and Nick Quinn run pub was for a high-quality asset that generates an annual EBIDTA in excess of $4 million in the much sought-after Hunter Valley region.

“The Castle” is a large format, high volume pub that spans across 6,613 sqm in a commanding position on the intersection of George and Lawes Streets. The circa 1920’s two story building features a public bar with TAB and sports viewing facilities, a large bistro that can seat over 250 patrons, a kid’s playground, an enclosed outdoor courtyard, a separate gaming room, a two-lane drive thru bottle shop, 14 3.5-star accommodation rooms, and an abundance of car parking.

Harvest Hotels Director Chris Cornforth said of The Windsor Castle, which is the eighth addition to the groups’ NSW portfolio:

“We currently own and operate pubs in Albury, Wagga Wagga, Dubbo, The Central Coast and Tamworth so geographically, a pub in the Hunter Valley adds great connection between the communities we are located in. It provides further value for our investor group and opportunities for our staff, suppliers and travelling patrons.”

“We’ve been exploring prospects in the Hunter Valley for a long time now, and Maitland comfortably met our location and pub selection criteria,” explains Chris. “It’s a high growth, central service area that is supported by multiple industries including education and health care, tourism, agriculture, mining, and construction.”

“Entering a new region brings with it great opportunities of getting to know new people, working with a new team of staff, aligning with like-minded business operators, and providing support to clubs, groups, and organisations through our community partnerships program. We look forward to adding our own Harvest touches to what is already an outstanding operation and iconic pub,” concluded Chris.

Harvest Hotels will soon be reopening its Harvest Pub Fund 1, creating more opportunities for those interested in investing in growth and yield focussed acquisitions within the pub sector.

The deal was negotiated exclusively through JLL Senior Vice President Ben McDonald and Vice President Kate MacDonald who noted the significance of the transaction.

Mr McDonald noted, “With this acquisition Harvest Hotels have bolstered their stable of assets with what is undoubtedly one of NSW’s finest regional pubs. Our vendors have done an outstanding job in building a significant business and we are proud to have generated this market leading transaction outcome for them. This transaction highlights the market’s willingness to pursue assets underpinned by robust trading fundamentals in key growth locations.”

Vice President, Kate MacDonald went on to add, “It’s been a delight to work yet again with Harvest Hotels to help secure this absolute powerhouse pub from Nick Quinn and partners, who would certainly be amongst the most well-respected operators in our game”, continued MacDonald.

This sale adds to a significant week of announcements for JLL Hotels following the $28m sale of Glenquarie Tavern – NSW’s largest ever leasehold transaction and of course, the high-profile listing of Australia’s greatest hotel – The Oaks, Neutral Bay with price expectations of $175m+.

To request a sales analysis please contact either of the selling agents JLL’S Ben McDonald and Kate MacDonald, via the below contact details.

Related reading;

The Oaks Hotel for sale by JLL Hotels 

Glenquarie Tavern Macquarie Fields sold $28 million - JLL

Castaways Resort & Spa Mission Beach for sale - JLL