Regional Gem, The Namoi Hotel Sold – as HTL Property Completes 20th Wider New England Region Hotel Sale

HTL Property is delighted to announce to the market the Sale of the Freehold Going Concern Interest in Narrabri’s Namoi Hotel for $8.5 million.

The off-market deal was exclusively negotiated by expert agents Blake Edwards and Xavier Plunkett of national brokerage firm HTL Property.

HTL enjoyed exclusive engagement by Tim Ireson and Ben Cochrane in order to divest the asset directly following a sequence of major transactions in the wider New England Region; where HTL Property has now sold in excess of $140m worth of hotel assets.

Ireson, Cochrane and partners had owned the asset for 2 years, and cited geographical constraints and a refocusing on assets closer to the Central West of NSW as the motivating factor for the sale.

“The asset was sold at a significant premium to the original purchase price, and the divestment represents good business sense for my partners. It was a hard decision to sell. We loved this pub, our staff and patrons.

Narrabri is a great town with a lot going for it” advised Vendor, Tim Ireson.

“We would like to wish the new owner all the best into the future, and will do everything we can to accommodate a smooth handover along the way” Ireson continued.

The Hotel highlights include a public bar, bistro, commercial kitchen, drive-through bottle shop, large 2,893m2* land holding, gaming room with 9 Band 2 Poker Machine Entitlements; and a 24 hour licence producing circa $5,000,000 in annual revenues.

“We understand that there are renovations and improvements planned for the hotel, but the new owners remain appreciative of the strong following that the Namoi has always enjoyed” offered HTL Property Director, Xavier Plunkett.

HTL Property, the exclusive agents for the sale, noted that the deal highlights the resilience of the regional pub market.

“This sale reinforces to us that yields on regional freehold going concern hotels remains robust, and the acute supply shortage of quality stock is continuing well into 2023” commented HTL Director Blake Edwards.

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