Regional Icon Changes Hands

The highly regarded Gurr family of Armidale (NSW) have sold the legendary Whitebull Hotel via leading agency HTL Property to active hotelier Jim Knox.

Long considered one the most sought after and well patronized New England region hotel assets, The Whitebull Hotel has transacted at $13.25m; a record sale for the city.

The sale of the Whitebull Hotel was managed exclusively by expert HTL Property agent Blake Edwards, and was negotiated following an off market process.

“We’re delighted to have managed this significant transaction on behalf of Pat and Karen Gurr, and look forward to announcing further similar sales in the region in the approaching weeks” advised HTL Property Director, Blake Edwards.

Purchased by hotelier Jim Knox, who enjoys other hotel investments in both Griffith and more recently Grafton; the impressive Whitebull Hotel is well known for its food and beverage offering, as well as incorporating 17 poker machines and a convenient retail offering in the revenue mix.

“A rewarding part of this particular sale process is that Pat and Karen’s two sons, Ben and Tom, will stay on in the business and help drive the best outcomes for the new owner” added Edwards.

“This is clearly not a typical outcome, but is one that best illustrates the quality of people involved in the transaction” Edwards concluded.

In these unprecedented times, this sale recognises the vision and commitment of a career publican, as aggregation becomes the new normal in this ever increasingly tightly held asset class.

“Transactionally, the highly sought after Regional asset class has kept pace with the Metro regions of NSW, recording 8 significant sales in the past month” advised HTL Property National Pubs Director, Dan Dragicevich.

“This trend underwrites our considered view that the magnetism shared for regional investment opportunities, will transcend the operating status of international borders” Dragicevich concluded.

The noteworthy sale of the Whitebull Hotel is HTL Property’s 12th hotel sale for FY22, and continues to reflect a robust national investment market.

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