JLL Hotels & Hospitality Group exclusively offer for sale the freehold interest in the historic Gollan Hotel in Lismore and associated retail property. The opportunity is underpinned by anchor tenant Northern Co-operative Meat Co Limited who currently occupy all 29 accommodation rooms on a registered commercial lease.

Extensively renovated, the property boasts excellent real estate fundamentals including 1,037sqm land holding, E2 Commercial Centre Zoning and a 20.5m height restriction. The asset generates an approximate net income of $500,000 ex. GST per annum derived from six individual tenancies. There are also 3 vacant spaces (including the former hotel area) that can be leased to general an additional circa $180,000 per annum in income.

The Gollan Hotel is rich with history, with Queen Elizabeth II staying at the venue upon a visit to Lismore in 1954. Photographs of this historic moment can be seen throughout the foyer of the accommodation lobby.

There remains substantial upside levers to the building, with the former ground floor pub space enabling a blank canvas opportunity to construct a new hospitality offering or retail shop tenancy. There is also a vast timber floored function area on the first level that could be converted to additional accommodation with the potential to create a grand master suite.

Home to 45,436 residents, the Lismore region enjoys a diversified economy, with significant contributions from sectors such as healthcare and social assistance, education and training, retail trade, and construction. The area is home to a large number of registered businesses and has a Gross Regional Product of $2.43 billion (ABR Data, 2021). The local healthcare sector, anchored by the Northern NSW Local Health District, generates over 6,700 jobs.

The freehold interest in the Gollan Hotel is offered for sale via Expressions of Interest, closing Thursday 4 April 2024 at 12pm midday (if not sold prior). To receive a copy of the information memorandum, contract of sale, or to arrange an inspection, all interested parties are to contact the exclusively appointed agents.

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