Gallagher Hotels, in partnership with Jon Daly, have sold the Terrigal Hotel, on the of the NSW Central Coast’s most prominent hospitality venues.
The large-format coastal pub was sold in an off-market transaction to Hunter Hotel Group, whose portfolio of hospitality assets spans the NSW Central to Mid-North Coast, including Pippi’s at the Point, Bateau Bay Hotel and Kincumber Hotel. The sale was brokered on behalf of the Gallaghers and Daly by JLL’s Ben McDonald and John Musca.
Strategically positioned in the heart of the Terrigal beachfront precinct on approximately 4,000sqm, the Terrigal Hotel is a multi-level hospitality venue comprising expansive bar and dining spaces, high-capacity function areas, and a high-performing gaming lounge. The venue generates average weekly revenues in excess of $285,000, underscoring its strong local patronage and year-round tourist appeal.
Patrick Gallagher highlighted the longstanding affiliation with the community as something both he and Daly will miss when they hand over the keys to the Hunter Hotel Group in September.
“We’re very sad to be leaving Terrigal and the local community we have enjoyed such a close, positive relationship with during our tenure. From the Surf Club to the Terrigal Sharks and the Fishing Club, owning and operating this hotel in such a vibrant community has been a real joy for John and I and our respective families. We wish the Hunter family every success in the future.”
Commenting on the new acquisition, Paul Hunter, managing director of Hunter Hotel Group added: “We’re excited to be taking on the Terrigal Hotel, an iconic venue local to us in a great location. We look forward to building on its strong reputation and continuing to deliver great hospitality for the local community and visitors alike.”
Coastal hotel investments remain tightly held and keenly sought after, with competitive demand from private and institutional buyers alike. This latest sale follows the recent announcement of the Beach Hotel, Byron Bay, and Bermagui Beach Hotel, both also sold by JLL Hotels, reinforcing the market strength of prime beachfront pubs.
“This discreet off-market transaction highlights the continued appetite for premium coastal pub assets,” said McDonald.
“Terrigal Hotel’s scale, trading performance, and blue-chip location made it a highly attractive acquisition for experienced operators like the Hunter family.”
The Gallagher family will now focus on their large scale, $10m refurbishment of the famed Hunters Hill Hotel, set to open in the coming weeks, along with optimising the balance of their portfolio. The Gallagher Hotels stable includes the Longueville Hotel, bought in 2022; Jacksons on George in Sydney’s CBD – which the Gallaghers rebought earlier this year – and the Railway Hotel, Fairfield.