Bathurst Gold Strike for Valued HTL Clients

Leading national brokerage agency, HTL Property, is pleased to announce the sale of Bathurst’s popular Family Hotel on behalf of Ashton Waugh and investors.

The prosperous off-market sale was managed by HTL Property Director Blake Edwards, following a discreet sale process whereby qualified parties were invited to participate in a sale process.

The successful purchaser is the highly regarded publicans Stephen and Lauren Raffen, who were ironically the vendors when the Waugh’s purchased the venue seven years ago in 2018.

“We’ve experienced a few circumstances in the past where we have been fortunate to have both sold an asset on behalf of and then back to the same client” advised HTL Property Director, Blake Edwards.

“The Bayfield family selling the Belrose Hotel to Redcape, and then buying it back at a later date is one such example” commented Edwards.

“So whilst not common, this type of transaction accurately reflects the value we place in client relationships and the trusted advisor role we strive to perform” Edwards added.

The impressive central-west hospitality asset is a freehold going concern hotel with bar, bistro, accommodation inventory and a profitable gaming room.

During their tenure, the vendors increased the GMEs from 12 to 22; and separately constructed a destination gaming room. Irrespective of asset class, the well known regional venue is now among the best performing businesses in Bathurst.

“Recent rate compression levers employed by the RBA, and the associated narrative, strongly suggests the prospect of the official cash rate operating around 3% by the end of the year” advised HTL Property Managing Director, Andrew Jolliffe.

“Consequently, market activity is directly indexed to the resultant positive sentiment; and, frankly, an inability for us to currently meet the national demands for hospitality assets” concluded Jolliffe.

End.