HTL Property Deliver After 36 Years Ownership

Leading national brokerage agency HTL Property today announces another mid-market transaction, following the sale of the Lake Illawarra Hotel in Windang, NSW.

The hotel has been sold by a private syndicate of owners who had proudly operated the hotel for an impressive 36 years.

With the hotel being one of the last mid-market Illawarra trading opportunities, the syndicate had received numerous unsolicited offers to buy the hotel over the last 24 months.

Consequently, the consortium determined to engage HTL Property specialist agents Dan Dragicevich and Sam Handy in order to undertake a discreet and targeted off-market campaign so as to crystallize the interest.

Following a fiercely competitive off market process, the hotel was purchased by a local hotelier with existing pub operations in the catchment.

The former Tooth’s brewery hotel is strategically situated between the powerhouse coastal centres of Wollongong and Shellharbour.

Positioned prominently on Windang Road, the main arterial transport link between Warrawong with Warilla; the Lake Illawarra Hotel sits on an exaggerated 6,038 sqm site, with surplus land offering alternate-use possibilities givens its SP3- Special Purpose Tourist zoning.

The Lake Illawarra Hotel enjoys a midnight liquor licence with 16 poker machines attached, and presents with an expansive trading footprint; promoting compelling upside levers across all revenue streams.

“The Lake Illawarra Hotel offers an incoming operator a veritable blank canvass upon which to reposition the business with a more modern and family-friendly offering” suggested HTL Property National Director, Dan Dragicevich.

Today’s announcement of the Lake Illawarra Hotel sale follows HTL Property’s other recent sales announcements in areas which orbit the State capital, including the Camden Hotel ($11M) and the Richmond Inn Hotel ($11M).

HTL Property agents would not be drawn upon as to the sale price achieved; other than to confirm that it was consistent with the parameters of the market guidance provided by the boutique firm over the course of the sale process and was separately commensurate with other recent and large format fringe metropolitan hotel sales.

HTL Property is currently exclusively engaged to sell Australia’s largest traditional hotel in the form of the Vineyard Hotel in Sydney’s burgeoning North-West.

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