Former Wallaby Lifts Trophy in Riverina

Leading national brokerage agency, HTL Property, is delighted to announce the successful sale of the landmark Gem Hotel in Griffith NSW, establishing a new record for pub sales. With the price paid for the hugely popular mixed hospitality asset being in line with the pre-marketing guidance.

The Vendor, private hotelier Jim Knox, divested the flagship Riverina asset following a particularly competitive on-market sale process; with the successful purchaser confirmed as highly respected publican Bill Young.

It is the former Australian rugby international’s first foray into the regional hotel market – adding to his extensive beef cattle production business; and portfolio of flagship Sydney hotels. The publicly marketed sale was exclusively negotiated by HTL Property’s Xavier Plunkett and Andrew Jolliffe.

Occupying a commanding 2,547sqm site in the heart of Griffith’s CBD, the Gem Hotel is widely regarded as the most profitable and highest-performing hospitality asset ever brought to market via public sale process in regional NSW.

Key features include:

– One of NSW’s top five regional gaming venues, with 29 entitlements and 3am trading approval

– Multi-award-winning Bull & Bell Steakhouse, ranked among the world’s Top 100 steakhouses

– Annual revenues exceeding $13 million, with strong earnings derived from food, beverage, gaming and accommodation

– 65 four-star hotel rooms achieving premium occupancy and rates

– Sophisticated Paul Kelly–designed interiors across all departments

“The Gem Hotel represents a truly trophy-grade asset, to date unmatched in scale and profitability across the regional NSW hotel market” commented HTL Property Director, Xavier Plunkett.

“The patent economic strength enjoyed by Griffith and its surrounding area and driven primarily by agriculture, manufacturing and viticulture; provides a robust platform for sustainable long-term hotel trade” advised HTL Property Managing Director, Andrew Jolliffe.

“The landmark sale of the Gem Hotel sets a new benchmark not just in Griffith or the Riverina, but across the entire regional hospitality landscape” Jolliffe added.

Vendor Jim Knox, who has been a prominent figure in both the Riverina and New England hotel markets, noted “The Gem has been an extraordinary part of our business journey. We are proud of the scale and reputation the hotel has achieved, and I’m confident it is in excellent hands with Bill Young and his team”.

The acquisition by Young further underscores the continued appetite for high-quality regional assets, with the sale reinforcing Griffith’s position as one of the most compelling investment destinations in NSW.

“We’re delighted with the acquisition of The Gem, and look forward to further enhancing the already outstanding reputation the hotel and the proud Riverina district is known for” advised successful Purchaser, Bill Young.

This milestone transaction builds upon HTL Property’s unrivalled transaction dominance in the regional hotel market, with the boutique firm having transacted the Top 5 largest regional pub sales in NSW over the past two years.

“The noticeable step-change in transactional cadence across the entire property backed hospitality industry nationally is pronounced; and never more evident than one of Sydney’s best known hoteliers acquiring a regional asset of this prominence” Jolliffe concluded.

End.