An excellent investment opportunity will present itself when the freehold for Soden’s Australia Hotel, Albury in NSW, will go to Auction onsite on the 14th of May 2021.

FerrierSilvia, as Receiver Appointed has exclusively engaged Manenti Quinlan & Associates in conjunction with D.J. May Real Estate as agents for the sale of the expansive Lessor’s Interest.

As well as offering long-term investment opportunity with an annual net rental of $276,831.17 + GST, Outgoings and Gaming Turnover Rent, the value is further underpinned by the gaming machine entitlements and land, which benefits from the potential for more intensive use in future.

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The Hotel occupies a large footprint of approximately 3,152 square metres with the site featuring attractive planning overlays including B4 Mixed Use Zoning under the Albury Local Environment Plan 2010, a height limit of 35 metres and an FSR of 3:1.

“The Hotel offers a good foundation with everything an astute investor requires in a premium asset,” says Leonard Bongiovanni, MQ Associates. “Rarely does an investment of this calibre become available.”

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Soden’s is a two-storey hotel commanding a grand corner position on Wilson Street in the city of Albury. Regarded as Albury’s most iconic hotel, Soden’s offers modern and spacious family dining, a range of sophisticated, private and semi-private function spaces for hire, and bright, stimulating sporting lounges and gaming. There is ample on-site parking.

As well as acquiring the Lessor’s Interest, the purchaser will also will retain ownership of the Hoteliers Licence and 16 Gaming Entitlements with a value of circa $3,165,000.

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Boasting proud associations with the racing industry, Soden’s dates back to 1857. During an extensive renovation in excess of $3M in 2011, the ground floor was completely renewed, while preserving the building’s original mid-19th century style and character. As well as a public bar, and TAB and private dining areas, Soden's offers outstanding family dining. Its spacious Bistro features an indoor play area, overlooks a beer garden, and has a capacity for 200 seated patrons.

The venue also features the ‘Stable Bar’, a private bar and beer garden, frequently utilised for private functions, weddings and birthday celebrations. The space pays tribute to the premises’ stabling of many thoroughbred champions, including 15 Melbourne Cup winners and the legendary Phar Lap in 1930.

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Albury itself sits on the Murray River, which is described as a natural playground that is enjoyed by swimmers and water sports’ enthusiasts all year round. The Rutherglen wine region is nearby, and visitors and locals alike enjoy the city’s blossoming food scene, art galleries, street market, botanical gardens, golf club, riverbank walks, and nature reserves.

A popular and sought-after destination, Albury is located between Sydney and Melbourne and is easily accessible by car, rail and plane. A population of approximately 56,000 enjoys a diverse industrial and commercial base. The population is forecast to grow to over 67,000 by 2036.

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“This is a fantastic opportunity to acquire a freehold passive investment with a strong underlying asset value,” adds Doug May of D.J. May Real Estate. “We expect the opportunity to be highly sought-after in the market.”

The auction will take place onsite, on the 14th of May 2021.

For more infromation contact agent Leonard Bongiovanni via the contact form below.

To view the listing with more information click here.

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