HTL’s 5th Sale of a Camden Icon Highlights the New Year Market Intentions

HTL Property announces today the sale of the specialist agency’s 5th hotel this Financial Year to date; in the form of the stately Camden Hotel, situated immediately within Sydney’s burgeoning South-West Corridor.

The Camden Hotel was sold following an off-market process curated by HTL Property’s Dan Dragicevich and Sam Handy, with this sale also marking the boutique firm’s sixth sale in as many weeks; following the respective announcements of the Hollywood, O’Malley’s, Hampton, Cooee and Harrington Hotels.

Camden, located at the epicentre of Sydney’s extremely fast growing South West is much like the city’s North West Corridor; in that it attracts billions of dollars of private sector investment, typically ghosting major housing and transport infrastructure projects.

The Camden Hotel has been sold by long time and highly regarded owners Garry and Jim McGrath; who together have owned the hotel for nearly sixteen years.
The McGrath family will continue to operate their stable of North Sydney and CBD hotels under their Sonenco Hotels banner.

“We’ve enjoyed our long association with the Camden area and have witnessed it’s emergence as a powerful growth hub” advised Vendor Garry McGrath.

“An unsolicited offer from the HTL agency provided us with the impetus to conduct an internal strategic review of operations, and following which it was determined that it made good business sense for us to exit from the hotel at this point in time” McGrath added.

The large format hotel is located within the main commercial/retail precinct of Camden, and competes with other strong performing hotels such as both the nearby Royal and Plough & Harrow Hotels.

The hotel business features a 2am liquor licence accompanied by 14 very valuable gaming machines entitlements.

Aesthetically pleasing, The Camden Hotel adorns a 1,352 sqm site; with active frontages onto both Argyle Street and Larkin Place Council car park enjoyed.

The Camden Hotel has been sold by HTL Property to experienced Hotelier and long-time Marlow Hotel Group Operations Manager, Paul Camkin and Estelle Kremer, owner of the Oaks Hotel, Albion Park Rail.

“In this era of consolidation it’s healthy to see a new owner buying from an established group, and we were pleased to be part of Paul’s new chapter” commented Dragicevich.

“The positive cadence generated by the firm’s multiple sales over the past two weeks speaks to the pulse of the asset class, and our deep affiliation with it” concluded HTL Property National Director, Dan Dragicevich.

End.