HTL Offers the Remaining Two Pub Invest Hotels to an Active Marketplace

Following on from the specialist firm’s sale announcement this week of two hotels within the Pub Invest portfolio transacting for a combined $74.5m, leading brokerage agency HTL Property has been exclusively appointed to sell the two remaining assets within the portfolio – being the stately Crown Hotel (Surry Hills) and the large format North Nowra Tavern (Nowra).

Insolvency and restructuring experts Wexted Advisory were appointed as administrators to the assets last year with the firm’s Andrew McCabe and Joseph Hayes overseeing the strategic asset disposal process on behalf of the unit holders.

HTL Property’s Andrew Jolliffe, Dan Dragicevich, Sam Handy and Blake Edwards have once again been exclusively retained to steer the sale process for the second tranche of assets.

Crown Hotel – Surry Hills, Sydney

The Sydney based Crown Hotel is prominently situated on the corner of both Crown and Cleveland Streets in Surry Hills; where the hotel is widely considered to be a landmark building within the Eastern Suburbs, and presents as a compelling inner city gaming opportunity.

“The business enjoys 24 hour trading approval with a rare seven day 3 hour gaming shutdown. The hotel enjoys a full complement of 30 gaming machines, and historically ranked as a consistent TOP 150 gaming hotel prior to the CV-19 imposed closures and trading restrictions” advised HTL Property Director, Dan Dragicevich.

The four storey building features 8 x hotel standard accommodation rooms, plus an outstanding rooftop residence with district views over Surry Hills, Moore Park, Allianz Stadium, the SCG and Entertainment Quarter.

“The Crown Hotel is positioned directly opposite national developer TOGA’s $200 million redevelopment of the former Surry Hills Village site; and which will feature 200 residential apartments, a 102 room accommodation hotel and 12,000 sqm* retail with Coles already committed as the anchor tenant” added HTL Property Director, Sam Handy.

North Nowra Tavern – Nowra, NSW South Coast

The North Nowra Tavern is a large format coastal freehold hotel strategically positioned next door to the North Nowra Shopping Centre; and within an exclusive trade catchment of 5,976* residents.

“The North Nowra Tavern is situated on an as yet to be wholly utilized 6,000sqm* landholding, with the site’s zoning allowing for significant redevelopment potential and a broad range of permissible uses including neighbourhood shopping centres, medical centres and motel accommodation” commented HTL Property Director, Blake Edwards.

The business generates in excess of ~$8 million in annual revenues across bar, bistro, gaming, wagering and retail liquor. The hotel features a 1:30am liquor licence with 25 gaming entitlements and was ranked #440 for the Dec-21 quarter. There is a DA approval in place to significantly increase the size of the trading footprint and optimise the layout of the hotel.

“Following the efficient sale of the first two Pub Invest assets, we now proudly offer to the market for its consideration one outstanding Sydney and South Coast Hotel, representative of their respective geographical locations and of rare AAA Grade hotel acquisition opportunities” advised HTL Property Managing Director, Andrew Jolliffe.

“Both hotels offer patently compelling characteristics, and as was the case with the sale processes for both the Rose and Crown and Corrimal hotels, our firm expectation is for a robust level of interest to ensue” concluded Jolliffe.

Both the Crown Hotel (Surry Hills) and the North Nowra Tavern (Nowra) are being exclusively sold by HTL Property and via a National Expression of Interest campaign closing at 12:00 midday on Wednesday 6th April 2022.

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