HTL Property is delighted to announce the successful sale of the Vandenberg Hotel in Forbes, NSW.

The transaction was exclusively brokered following an extensive marketing campaign led by Ben Kennedy and Xavier Plunkett of HTL Property, and on behalf of the Gunn Family; who have deep roots in the region.

The Purchaser is a new entrant into the hotel industry, looking to build on the existing strong foundations the asset enjoys; and to further create a community-focused venue.

The Vandenberg Hotel, a charming and traditional-style establishment, boasts a wide range of features, including a public bar, a commercial kitchen, a large dining area, an expansive beer garden, a café, and 14 pub-style accommodation rooms. Additionally, the property includes a manager’s residence and an underutilized 3am trading licence offering further potential for growth.

“The Vandenberg Hotel is our 2nd sale in the region announced to the market in the last 2 weeks, together with the sale of the Cambridge Hotel in Parkes. Accordingly, we are seeing increasingly strong demand from buyers in the Central West Region of NSW. Assets that present upside via operational improvements and the increase of trade through the introduction of new revenue streams” noted HTL Property’s Ben Kennedy.

“Forbes is a very strong regional economy, located approximately 375 kilometres west of Sydney in the Central West region of New South Wales. Primary economic industries are agriculture, manufacturing and construction which drive a significant Gross Regional Product (GRP) of $595 million, which has been increasing consistently over the past decade” offered HTL co-agent Xavier Plunkett.

“The incoming Purchaser is well-positioned to capitalise on the growing demand for accommodation in Forbes, especially from travelers and contract workers. With its prime location in the heart of the city and an underutilised 3am licence, the Vandenberg Hotel is poised to benefit from the many underlying desirable trading characteristics of the asset; as well as a flourishing local economy” concluded Kennedy.

The sale of The Vandenberg Hotel is a significant vote of confidence in the NSW regional pub market. Reiterating the notion that the Central West has always been a prosperous region for high-quality regional pub ownership.

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