HTL Property Delivers the Nag’s Head Hotel

Following material sales this past week of the Port Macquarie Hotel, Strathfield Hotel, Tacking Point Tavern and Gambaro’s Hotel in Brisbane, expert agency HTL Property today announces the sale of Sydney’s popular Nag’s Head Hotel in Glebe.

Built in the 1860’s, The Nag’s Head Hotel has been sold by former Qantas CEO Geoff Dixon and his business partners David Birkbeck and Russ Lowe as part of the DBL Pub Group, to highly regarded hotelier Marcello Colosimo of Momento Hospitality. The DBL Pub Group continues to own and operate the Blues Point Hotel in Milsons Point and Plough & Harrow Hotel in Camden.

Adding to his existing stable of predominantly large format suburban hotels, the acquisition of the Nag’s Head is Colosimo’s third Sydney city-fringe hotel purchase in as many months; following the sale to Momento Hospitality of both the Royal Albert in Surry Hills, and the Friend in Hand also in Glebe.

“Our recent purchase of three inner-city freehold hotels speaks to a strategy around portfolio balance, and also an opportunity to activate some food and beverage levers we have been formulating and look forward to activating” advised Momento Hospitality CEO, Marcello Colosimo.

The sale of the Nag’s Head Hotel was conducted exclusively by specialist HTL Property agents Andrew Jolliffe and Sam Handy via an off-market process.

“We’re encouraged by the positive activity exhibited by sales across multiple states in Australia over the past few weeks, and submit that this should serve to illustrate the quality of investment opportunities enjoyed by this property backed and hospitality fronted asset class” concluded HTL Property Managing Director, Andrew Jolliffe.

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