Another Landmark New England Hotel Sale

HTL Property is delighted to announce to the market the sale of the Royal Hotel in Moree; the third New England hotel sold by the boutique agency in the past 10 days.

The deal, exclusively brokered by HTL Property Agent Xavier Plunkett, was conducted via a buy-side mandate for established hotelier Jim Knox.

The significant asset is comprised of a large traditional hotel offering with public bar, commercial kitchen, bistro, TAB, and gaming room with valuable 15 poker machine licences and a freestanding Motel with 16 rooms.

The incoming Purchaser is very familiar with the town, and has other agriculture-related business interests locally. Robust local GDP drivers in concert with the enormous irrigated cotton farming enterprises, strong blue collar employment, significant infrastructure spending such as the $15 billion Inland Rail Project, the nearby $3.6 billion Santos Pilliga Gas Project and increasing post CV-19 domestic tourism numbers all appealed to the successful Purchaser.

“Moree is a historically resilient economy” commented Purchaser Jim Knox.

“We are particularly familiar with the town, and have adopted a positive view regarding the prospects for both the pub and the region” Knox added.

“Despite Moree being one of the highest performing pub towns in New South Wales on a per capita basis, the major pub groups have historically shown a reluctance to enter the town largely due to geographical constraints” suggested HTL Property’s, Xavier Plunkett.

“It is however our considered view as agents, that these high-quality hotels in regional towns actually represent some of the most astute purchasing opportunities on offer across any real estate backed asset class” Plunkett added.

“Attractive yields, enormous infrastructure spending, consistent and maintainable cash flows, diversified revenue streams, and topically, comparatively limited disruption from CV-19 related lockdowns” Plunkett concluded.

The sale of the Royal Hotel Moree is the third major New England Region Hotel Sale, and the second purchased by Mr Knox, announced to the market by HTL Property in the past 10 days.

“In an investment context characterized by strong market sentiment and a clear lack of quality stock on the market at any given time, decisive off-market transactions will make up the majority of total sales volume over the next 12 to 18 months” offered HTL Property Director, Blake Edwards.

“Accordingly, close agent relationships and buyer conviction will prove equally invaluable to transaction outcomes in the current environment” Edwards concluded.

End.