4th New England Pub Sale by HTL Property

HTL Property is delighted to again announce to the market the sale of a Freehold hotel in the form of Thunderbolts Inn, Uralla.

The deal, brokered off-market by Xavier Plunkett of HTL Property in conjunction with Nick Tinning of Chris Tinning and Co; was exclusively done so in excess of $3 million dollars.

The asset sold comprises a full format pub offering with public bar, commercial kitchen, Bistro, TAB, gaming room with 9 poker machine licences and pub stay accommodation rooms. Additionally, there exists circa 6000sqm of surplus land with latent redevelopment or subdivision opportunities attached.

The Vendor for the sale is long time publican Warren Moore of Moore’s Investments.

The successful Purchaser is again the Roche Group, which holds significant agricultural and hospitality assets in the region.

“The current tenant will continue to operate the business in the short term; however, the incoming purchasers enjoy the capacity and intent to operate the hotel at the expiration of the current lessee’s interest. It is a strategic asset that fits in well with the Roche Group’s wider regional hotel strategy” advised HTL Property’s Xavier Plunkett.

Located on the main thoroughfare connecting the two largest regional centres in the New England being Tamworth and Armidale, Uralla is a thriving satellite town supporting a strong rural economy and promoting a combination of high-value agricultural enterprises and strong domestic tourism appeal.

“Uralla has outperformed many of the other towns in the Region in the past 10 years. The booming local agricultural sector has driven meaningful population growth for a town of its size, and local tourism is strong and further stimulating economic activity for the town” Plunkett added.

“Unsurprisingly, Uralla is a favourite for day trippers in the region with a strong art gallery and cultural scene, popular museums, quality food offerings at the cafes, bakeries and pubs; and a locally famous but truly world class pie shop” concluded Plunkett.

The acquisition of Thunderbolts Inn by such a reputable operator is a further vote of confidence in the New England economy and wider regional hotel market in general.

The agents cited significant off-market interest in the asset with the Vendors yielding multiple acceptable offers throughout the process.

The sale of Thunderbolts Inn is the fourth New England Region Freehold pub sale announced to the market by HTL Property in the past month alone.

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