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JLL has been appointed to market for sale the Royal Inn Hotel
JLL has been appointed to market for sale the Royal Inn Hotel; a well-known Newcastle hotel with strong trade history and tipped to attract significant buyer interest. Sam Handy, Vice President and John Musca, National Director of Pub Investment Sales, Hotels & Hospitality Group are the exclusive agents leading the EOI campaign, closing Tuesday 8 April 2014.
The hotel features a public bar, lounge bar, TAB, beer garden, bistro, gaming room, accommodation rooms and a managers residence. It also has extended trading hours (early opener) and features 15 electronic gaming machines with opportunity to acquire a total of 25 machines and to implement an outdoor gaming room smoking solution.
"The hotel is already a solid gaming performer and is surrounded by two of Newcastle's strongest gaming pubs in neighbouring suburbs. Fulfilling the hotels 25 gaming machine threshold and creating an outdoor smoking-solution will ensure the hotel sky rockets up the gaming rankings." suggested Mr Handy.
Mr Handy said, "Newcastle's proximity to Sydney, its population growth and stable economy, cements the city as an area of strategic significance to large hotel operators. Onerous liquor licensing conditions for premises located in the Newcastle CBD have also increased the demand for pubs located in fringe suburbs such as Waratah and Broadmeadow."
Mr Handy added, "The property has a strong established cash flow and offers compelling upside across all income streams. This, coupled with the fact that all revenues and profitability are easily substantiated will underpin significant buyer interest."
"This offering represents one of the best Newcastle freehold going concern assets to be marketed in Newcastle in the past five years." concluded Mr Handy.
The hotel is for sale by EOI campaign closing on Tuesday 8 April 2014.
Vice President - Hotel Investment Sales
+61 2 9220 8588
National Director - Hotel Investment Sales
+61 2 9220 8710
+61 2 9220 8787