JLL Hotels & Hospitality Group is proud to announce the successful sale of the freehold interest in the Royal Hotel, Taree.

Situated robustly on the main street of Taree at 202 Victoria Street, the venue was sold via a competitive 4-week Expressions of Interest process with contracts exchanging immediately upon the campaign concluding. The venue boasts an impressive front bar, 12 accommodation rooms with a manager’s residence and a large rear courtyard with water views of the Manning Rivers. A spacious bistro and modern commercial kitchen complete this true all-round hospitality asset.

JLL Hotels Executive Edward Browne and Vice President Greg Jeloudev facilitated the transaction and highlight the operational potential and sound commercial property fundamentals as the key drivers for the ultimate sale outcome. Mr Browne notes, “The comprehensive offering of the Royal Hotel encompasses everything required of a successful hospitality operation and as such, the campaign received sound interest from established operators and new market entrants.”

Situated on the mid north coast on the banks of the Manning River, Taree is the principal city of the Manning River district. The town is a 3hr 45min drive north of Sydney. With a population of over 18,000 people with this figure set to increase 20.8% by 2036.

The venue was sold to a local group of private investors who add the venue to an existing portfolio of hospitality assets. The group will seek streamline the food and beverage operation with the goal of providing a premium hospitality offering to the Taree market.

Regional hospitality assets positioned in strong NSW towns continue to generate significant interest from the market, particularly those with multiple revenue streams and sound trade figures.

To request a further information please contact the selling agents via the below contact details.