JLL Hotels & Hospitality Group  announce the sale and settlement of the freehold going concern interest in the Tattersalls Hotel, Casino. The pub was sold on behalf of popular publican Rodney ‘Ned’ Kelly of Kelly & Co Hotels. The venue was purchased by an experienced hotelier who adds another impressive venue to a growing portfolio.

The Tattersalls Hotel is a robust hotel operation that enjoys a diversified revenue profile comprising of gaming, accommodation, and food and beverage trade. Positioned on an expansive 1,944sqm lot, the hotel offers multiple dining options as well as an inviting outdoor beer garden. Underpinning the business is a newly constructed gaming room with 22 machines – the largest holding by far in the Richmond Valley. Casino is rooms (6 of which have been recently refurbished) provides visitors with excellent situated within a Band 3 ‘red zone’ which protects the asset from any future competition. Furthermore, 20 accommodation short-term accommodation in the centre of town.

JLL Hotels specialist brokers Greg Jeloudev, Kate MacDonald and Edward Browne managed the sale, with Mr Jeloudev noting, “The regional market continues to gain momentum as active participants are now accustomed to the current debt environment and serviceability requirements. The outstanding revenue profile of the Tattersalls Hotel ensures this criteria was easily met, with the purchaser adding to the venue to an impressive existing hotel portfolio.”

Lying on the banks of the Richmond River, Casino is located 60km west of Byron Bay and 90km southwest of the Gold Coast. The township is a thriving regional centre and is the main economic hub of the Richmond Valley which benefits immensely from strong cattle, timber and manufacturing industries.

The sale of The Tattersalls Hotel is the fourth hotel sale announcement from JLL in the last fortnight, and closely follows the announcements of the Vauxhall Inn at Granville, The Chatswood Hotel and the Wattle Grove Hotel in Liverpool. The resurgence of confidence in pub sector will be further evidenced with several new sale announcements to be made shortly.

JLL Hotels sincerely thanks Kelly & Co Hotels for entrusting the firm with this important mandate and congratulates the successful purchaser with their new acquisition.

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