Kelly & Co Settle in Gosford

HTL Property is delighted to announce the sale of the Settlers Tavern in West Gosford on behalf of valued long term clients Justine and Nick Tindall, daughter and son-in-law of Arthur Laundy AO.

Justine, Nick and Arthur purchased the Hotel in 2016 and have upgraded the operations significantly during their decade of tenure. The efficiently laid out Tavern operates a bar, bistro, gaming room with 20 gaming machines, benefitting from 3am trading privileges and substantial on-site parking across a material 5,021m2 commercial property allotment.

The Central Coast is experiencing rapid population growth and unprecedented Government spending; which includes the $1 billion rail upgrade between Sydney and the Central Coast.

The Settlers Tavern is proximate to the proposed 1a Racecourse Road development, which is under consideration by the NSW Planning Department; and which once completed would see a $115m mixed use development including a 196 room motel.

Returning to the industry after a 2 year hiatus is well credentialed Hotel investor, Damian Kelly, known for having an eye for astute, strategic acquisitions.

“Excellent trading conditions right across NSW are continuing to exemplify the sector’s attractive investment fundamentals, highlighted by the Settler’s transaction between clearly an industry stalwart in the Laundy family, and an experienced hotel investor buying back into the market” advised HTL Property National Director, Dan Dragicevich.

The Settlers Tavern enjoys an exclusive trading catchment in West Gosford and the surrounding suburbs, with the LGA itself exhibiting a very low percentage of hotels per capita.

“Pubs on the Central Coast traditionally sell on slightly softer cap rates than their Sydney Metro counterparts; albeit the region enjoys many of the same favourable demographic and economic markers as does Sydney. With impressive population growth taking shape, the region is fast becoming an extension of Greater Sydney” concluded HTL Property Director, Blake Edwards.

In an exceptionally busy year for hotel transactions, HTL is due to announce several other hotel sales in coming weeks.

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