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Press Release

Second Large Sydney Freehold for Sale by HTL Property

Following last week’s record sale of the Vineyard Hotel on behalf of the Stanford family, HTL Property have now been exclusively retained to sell the family’s second hotel in the form of the equally statuesque Carousel Inn.

Located on a prominent corner site in Sydney’s Rooty Hill, the hotel is sprawled across a uniformed 17,000sqm commercial land holding; whilst enjoying multiple revenue inputs and comprising a valuable 3am licence and 30 electronic gaming devices.

“The Carousel Inn has been one of the most enquired about Metropolitan Hotels over the last decade, and for very good reason” advised HTL Property National Director, Dan Dragicevich.

“Presenting all the intrinsic fundamentals astute operators look for in large scale Hotel platforms such as this, opportunities to secure assets of this nature are generational at best in Greater Sydney” Dragicevich added.

With less than 10% of the Top 200 ranked gaming hotels in Sydney still held in single asset family arrangements, the 250 car space Carousel Inn keeps company with the rarest of opportunities to acquire ultra-large format and multifaceted hotel indexed land holdings anywhere in Australia.

“The totemic sale of the Vineyard Hotel just last week speaks to a new benchmark in terms of both pricing and yield; as well as half a billion worth of unsatisfied and now displaced under bidder capital seeking opportunity” advised HTL Property Managing Director, Andrew Jolliffe.

“As such, our publicly available market commentary regarding the depth of asset class specific capacity for hotels such as the Carousel Inn, remains both firm and underwritten by the materiality of transactional activity across the entire national footprint” Jolliffe concluded.

The sale of the Carousel Inn will be conducted exclusively by specialist national agency HTL Property via an Expression of Interest campaign concluding 10 November 2021.

End

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