Mid-North Coast Tavern Sold

HTL Property is pleased to announce the successful sale of the Freehold Going Concern interest in the Valla Beach Tavern, located in the idyllic coastal township of Valla Beach on New South Wales’ Mid-North Coast.

The successful sale was exclusively negotiated by HTL Property’s Xavier Plunkett and Ben Kennedy via a targeted off-market process; concluding in a deal to the recently formed AB Hotels, headed by Brett Strauss and Adam Hutchinson, who separately own and operate the Harwood Hotel near Yamba and the Kent St Hotel in Sydney’s CBD.

The Vendors for the sale are brothers Steven and Chris McEvoy, who built the modern style tavern in 1986. The venue had been operating under a lease agreement until earlier this year.

Positioned on a substantial 4,338sqm* landholding with over 110 metres of arterial road frontage, the Valla Beach Tavern is the only hotel, bottle shop, and licensed venue servicing the growing township of more than 2,600 residents. The full-format hotel features a public bar, bistro, gaming lounge, drive-through bottle shop, children’s playground, and parking for more than 50 vehicles.

The Hotel also benefits from nine (9) Band 2 gaming machine entitlements, and recent capital investment of over $250,000*, ensuring the property was offered to market in turnkey condition and with no immediate capex requirements.

“The Valla Beach Tavern represented a unique intersection of coastal lifestyle appeal and sound commercial fundamentals as the only licensed venue servicing the entire coastal town; and the sale is further validation of continued investor appetite for quality coastal assets” advised HTL Property’s, Xavier Plunkett.

“The Mid-North Coast region continues to attract both population growth and therefore investor capital, and this transaction reinforces the strength of tightly held, lifestyle-oriented hospitality assets” added HTL Property’s Ben Kennedy.

The impressive asset enjoys a balanced revenue mix across bar, bistro, gaming and bottle shop operations, with the diversified trading platform particularly attractive to the incoming purchasers. The Hotels strategic position within 30 minutes of Coffs Harbour further strengthens its appeal.

HTL Property is also currently marketing the Macleay River Hotel in Frederickton, which agents advise will attract a similar buyer profile.

*Approx.