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JLL's Hotels & Hospitality Group exclusively appointed to offer for sale the Grand Hotel in Rockdale
JLL's Hotels & Hospitality Group is delighted to be exclusively appointed to offer for sale the Grand Hotel in Rockdale. The hotel has been operated by the Goff family over the last 34 years.
Sam Handy and John Musca will steer the campaign which is being offered for sale via public tender closing on the Thursday 30 October 2014.
Mr Handy suggested, "The Grand Hotel represents one of the most anticipated Sydney gaming pub sales over the last five years. These AAA gaming pubs are seldom publicly offered to market and the sales campaign will be keenly contested."
The hotel features irreplaceable core trading attributes such as a single service point, 24 hour liquor licence and 30 gaming machines with only 15 currently in the smoking solution. The hotel is also strategically located within the commercial/retail heart of Rockdale, across the road from the train station and surrounded by several large council car parks.
Mr Handy said, "Astute operators will know that there is significant upside in a TOP 30 gaming pub with only 15 gaming machines in the smoking solution. There is a very clear and obvious opportunity to have all 30 machines in a smoking solution and the gaming performance is anticipated to sky rocket even further up the rankings."
A review of the June Quarter TOP 200 ranking report will demonstrate that 80% of Sydney's TOP 50 gaming pubs are owned by either gaming pub portfolio owners or are in corporate or institutional hands with neither segment having any real propensity to sell down any of their pub assets.
Mr Musca suggested, "There is a diminishing availability of TOP 50 gaming pubs in private hands across Sydney for acquisition and the Grand Hotel has the irreplaceable locational business drivers that astute publicans will recognise as core to the very best gaming hotels in Sydney."
JLL Hotels & Hospitality Group transacted the only other two high ranking gaming pub sales this year being the Vegas Hotel in Blacktown ($25.12 million) and the Palms Hotel in Chullora ($22.5 million).
National Director - Pub Investment Sales
02 9220 8710
Vice President - Pub Investment Sales
02 9220 8588