Another Newcastle Hotel for Sale by HTL

Following the record sale of Beaches Hotel at Merewether, and the successful sale of both the Caves Beach Hotel and Beauford Hotel; leading specialist agency HTL Property today announces the sale process for the Sunnyside Tavern in the Newcastle suburb of Broadmeadow.

“We wholly expect this asset will be well received by the market due to the patently clear popularity of A grade leased hotel investments” advised HTL Property Director, Blake Edwards.

“Separately, I think the asset will also be meaningfully targeted by hotel groups looking to secure a future supply of gaming entitlements for downstream utilization” Edwards added.

Adorning a prominent commercial footprint of 1263sqm, the investment grade asset produces annual income of $382,047 + GST + outgoings; with a further CPI increase scheduled in December 2022.

With approximately 15 years remaining on the lease (including options), the recently refurbished hotel features bar, bistro, gaming room, large beer garden and 12 accommodation rooms.

Anchoring the value of the asset and forming part of the sale are 15 very valuable poker machine entitlements; and separately, the hotel’s proximity within 1km of the Hunter Sports and Entertainment Precinct makes for a magnetic investment proposition.

“Having recently sold a number of Newcastle and Hunter region hospitality assets, we enjoy a contemporary view on how the market is responding to high quality assets in that region” advised HTL Property National Director, Dan Dragicevich.

“Couple this point with the fact that leased pub investments are typically scarce products across the national landscape, and we anticipate firm local and interstate interest in an asset enjoy the strong fundamentals this one so clearly exhibits” Dragicevich concluded.

The sale of the Sunnyside Tavern is being managed exclusively by HTL Property via an EOI sale process concluding 7 July, 2022.

End.