After 45 Years of Ownership the Hotel Cecil, in the Northern Rivers town of Casino, has a new operator.

Following a successful Expression of Interest campaign in late 2021, the Hotel Cecil has this week settled following an extended settlement negotiated by the purchaser.

The hotel occupies an imposing corner site with main street frontage and is well known for its commanding two storey traditional presence.

Marketing literature at the time of sale noted the $123,000+ per week in sales, via the consistent bar, bistro and gaming departments, large drive-through bottleshop, TAB, Café area and on-site carpark which includes surplus land with further potential.

Leonard Bongiovanni of Manenti Quinlan stated that “the purchaser identified the value add-opportunities having been in the same local hands for around 45 years and being run entirely under management”.

John Hannigan of John Hannigan Real Estate added “The consolidation of hotels in town with a population of around 11,000 meant the campaign generated plenty of interest”.

While the sale price was not disclosed, it is said to be consistent with market guidance during the campaign of circa $9m.

To request a sales analysis please contact the selling agents Leonard Bongiovanni of Manenti Quinlan and John Hannigan of John Hannigan Real Estate via the below contact details.

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