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News release


Another Western Sydney Hotel Sold

El Toro Motor Inn Hotel, Liverpool sold on behalf of ASX listed Lantern Hotel Group

JLL Hotels & Hospitality Group are delighted to announce the sale of the El Toro Motor Inn Hotel, Liverpool on behalf of ASX listed Lantern Hotel Group for $24 million.

Situated on Hume Highway at the confluence of the Fairfield/Liverpool borders, the hotel includes 29 gaming machines, 55 motel rooms and occupies a strategic 1.4 hectare site area in the heart of Liverpool's burgeoning development precinct.

Selling agent John Musca, National Director – Investment Sales, suggested, "The transaction uniquely represented an attractive premium to carrying value for the vendors and offered exciting trade growth and large-scale redevelopment potential for the purchasers, so it was a win-win in every respect."

The transaction follows the recent sale of the Macquarie Hotel in the Liverpool CBD for $25 million, also sold by JLL, further evidencing the market engagement with the Liverpool growth story as NSW's designated third city and earmarked for circa 500,000sqm of additional commercial and retail development.

"With a significant trading history as a consistent Top 100 gaming hotel, El Toro principally delivers a substantial underlying holding income on what is effectively a strategic greenfield future redevelopment site, ideally optimised by private hoteliers with a long term view," Mr Musca said