HTL Property is pleased to announce the successful sale of The Royal Oak Hotel in the Hunter Valley City of Cessnock.
The Freehold interest in the property was sold by HTL Property’s Blake Edwards and Xavier Plunkett, on behalf of the Vendor.
The hotel was purchased by a private investor who also owns two other Hunter Valley freehold hotels within his diverse and varied portfolio of regional property assets.
The acquisition was a strategic property play where the successful purchaser recognised both the underlying asset value of the large property holding; as well as the potential to increase the earnings potential of the asset by running longer term accommodation. In addition, the purchaser is understood to be contemplating the possible alternate use for the bar and cafe components to the property; both of which have been closed for
over 12 months.
The property consists of a large freehold brick hotel building located on the main thoroughfare through Cessnock, the gateway to the Hunter Valley Wine and Tourism region. The hotel features a bar, restaurant, large-scale commercial kitchen, 14 pub style accommodation rooms, spacious rear beer garden with separate cafe and ample off streetcar parking.
Royal Oak Hotel Restaurant had previously held many prestigious accolades from both the SMH Good Food Guide; and the AHA National Awards for Excellence in 2013, 2014 and 2015.
“The venue’s proximity to the Hunter Valley Wine Region, and year-round events calendar, created strong levels of enquiry for the asset from hoteliers, experienced food and beverage operators and alternate use developers alike” advised HTL Property Director Blake Edwards.
“We were delighted to be entrusted by the Vendor to handle the sale of this asset and are even more pleased to have effected this successful result” Edwards added.
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