The Lansvale Ramada Hotel & Suites in Cabramatta have been sold in a discreet off-market campaign.
The freehold going concern sale was handled by JLL Hotels & Hospitality on behalf of the long-term single-asset private owners of the hotel. JLL would not be drawn on the identity of the purchaser only noting that they are an experienced local publican group.
The Lansvale Ramada Hotel & Suites is a large-scale integrated complex that sits on a huge 8,035 sqm site on the Hume Highway arterial. The hotel includes 25 EGMs, public and bistro bars, a dining room, onsite parking, 82 four-star accommodation rooms, extensive recreational facilities and a late trading license.
Currently ranked 288 in NSW’s hotel gaming rankings and situated in one of the state’s most profitable LGAs for gaming, it is widely believed that there are plenty of business growth opportunities for the Lansvale Ramada Hotel throughout the complex.
All parties involved in the transaction have refrained from commenting on it, but JLL’s managing director John Musca suggested that “across our national team, partner-shipping with clients to fulfil their strategic investment briefs with alacrity and in an off-market capacity, continues to deliver success.”
The announcement of the sale comes less than a week after another south-west Sydney gaming pub, the Wagon Wheel Hotel in St Mary’s, was sold for roughly $17 million.