Mid-North Coast Waterfront Freehold Pub with 8 Poker Machine Entitlements for Sale by HTL

HTL Property Agents Xavier Plunkett and Blake Edwards are delighted to offer to the market the Freehold Interest in the Macleay River Hotel, Frederickton.

The Hotel offering includes a public bar, bistro, commercial kitchen, function space, bottle shop; and gaming room with 8 gaming entitlements.

The asset provides an expansive 3,064sqm, prime river-front property, located on the main thoroughfare through town; with ample on and off-street parking.

“The asset presents a clear upside play for an experienced operator, presenting many desirable attributes sought by the most successful publicans, including a large river-front land holding, a main street location and multiple revenue drivers. Alternatively, the hotel presents an outstanding poker machine entitlement acquisition strategy with holding income.” offered HTL Property’s Xavier Plunkett.

“Further, there exists significant underlying value in the 8 Band 3, Kempsey LGA, poker machine entitlements” Plunkett added.

“The asset enjoys a captive audience of circa 2,000 residents in the local township of Fredericktown, but also forms part of the wider Kempsey LGA population of circa 35,000*. With roughly 1 pub per 5,000 residents”, concluded Plunkett.

Vendors for the sale are a locate syndicate, who purchased the asset opportunistically; as a passive investment in 2021, but have now elected to divest the asset in order to redeploy capital into core portfolio assets.

“We expect interest from both metro and locally based hoteliers, as well as private investors due to the highly favourable economic and demographic drivers in the Mid-North Coast economy” advised HTL Property’s Blake Edwards. “Further, Mid-North Coast assets of any description are always hotly contested as evidenced by the record $100m combined sale of the Port Macquarie Hotel and the Tacking Point Tavern. As well as the Mercure in Port Macquarie, Manning River Hotel in Taree and Harrigan’s at Harrington all transacting in quick succession in 2022 through HTL Property”, Edwards concluded.

The Hotel is being offered for sale by Expression of Interest closing Thursday 20^th July (unless sold prior).

End.

*Approx.