HTL Property Delivers Another Successful Sale Outcome – Macleay River Hotel: Sold

National specialist brokerage firm HTL Property is pleased to announce the successful sale of the Macleay River Hotel, Frederickton; affectionately known by locals as the ‘Fredo’ – a prominent riverfront hospitality asset located on the Mid-North Coast of New South Wales.

The transaction was exclusively managed by HTL Property’s Xavier Plunkett and Ben Kennedy, who together conducted a competitive sales campaign resulting in the acquisition of the property by a prominent New South Wales hotelier.

Situated on a substantial 3,064sqm* freehold riverfront site, the hotel comprises a traditional public bar, bistro, commercial kitchen, function space, bottle shop, seven underutilised accommodation rooms; and a gaming lounge incorporating six poker machine entitlements.

Vendor Alistair Flower of Flower Hotels praised the strategic sales process led by HTL Property, emphasising the importance of community continuity for the well-regarded local venue. “The asset was acquired several years ago as part of an expansion strategy that included the acquisition of a number of smaller-scale community hotels” Mr Flower said. “As the group has grown, we have made the strategic decision to divest the Macleay River Hotel in order to refocus company resources on our larger acquisitions, including the Tacking Point Tavern and Mercure in Port Macquarie; as well as significant renovation programs at both the Lake Cathie Tavern and the Hastings Hotel in Wauchope” Flower added.

“The Macleay River Hotel offered a number of compelling attributes, including its substantial landholding, strong local patronage, and strategic waterfront position” advised HTL Property Director, Xavier Plunkett. “We are pleased to have successfully transacted another quality Mid-North Coast asset for long term client Flower Hotels” added Plunkett.

“This campaign further highlights HTL Property’s ability to identify and unlock value across both coastal and regional hospitality assets through structured transaction processes, strategic advice on gaming machine entitlements; and targeted buyer engagement” added HTL’s Ben Kennedy.

The sale of the Macleay River Hotel represents the 20th Mid-North Coast pub, hotel or accommodation asset transacted by HTL Property in the past 5 years; totalling over $300m in deal value and reinforcing the firm’s market-leading position in the highly sought after Coastal region.

*Approximate