Jerrabomberra Hotel Harvested

HTL Property is delighted to announce the sale of the Jerrabomberra Hotel in Queanbeyan to Harvest Hotels. The acquisition is the first to be made under the newly merged Harvest Pub Fund, which is currently comprised of eight high quality, large format pubs in high-growth regions across NSW; and will join Harvests’ portfolio as the thirteenth venue under current management and the company’s eighteenth acquisition in total since its inception in 2014.

Situated on 2,759m² opposite the Jerrabomberra Village Shopping Mall and featuring a drive-thru bottle shop, bistro, sports bar and 30 machine gaming room, the sale of the “The Jerra” was brokered by HTL Property’s Dan Dragicevich and Sam Handy.

“The Jerrabomberra Hotel is an A-grade regional venue that presents all the intrinsic fundamentals that astute purchasers are drawn to. Exclusive catchment, high foot traffic positioning and ample parking are strategic trading cornerstones which enable successful trading longevity” advised HTL Property Director, Sam Handy.

Founder and Managing Director Chris Cornforth said Harvest Hotels has been exploring prospects in the Queanbeyan Local Government Area for a number of years.

“We’ve previously owned and operated pubs in the nearby community of Yass, so are well acquainted with the broader region: and in meeting all our required demographic metrics, Queanbeyan has been a target area of ours for a long time” commented Cornforth.

“Harvest Hotels has proven themselves to be astute purchasers over their tenure and the Jerrabomberra acquisition is no different. Queanbeyan is situated on the border of NSW and the ACT resulting in the township effectively drawing on a population base of over 450,000 serviced by only five NSW licensed Hotels” added HTL National Director, Dan Dragicevich.

“Having recently consolidated two funds to create Harvest Pub Fund, we’ve been extremely vigilant in making sure we secure properties and businesses that not only align with our strategic plan and can generate a strong return for investors, but that also complement the existing high-quality assets that we have under management” concluded Harvest Hotels Managing Director, Chris Cornforth.

The deal marks HTL Property’s third $20m+ regional NSW transaction in as many months following the $31m sale of the Seabreeze Hotel in South West Rocks and the Central Hotel in Shellharbour for $25m.

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