Both the Glenquarie Tavern in Sydney’s south-west and the Moss Vale Hotel in NSW’s Southern Highlands have sold recently, in two separate deals.

Top 100 gaming leasehold, the Glenquarie Tavern, has been sold for the first time since it was built in 1975 for $28 million.

The Glenquarie Tavern sits on a massive land holding of 5574sqm and its facilities include a public bar, bistro, gaming room with 30 EGMs, drive-through bottle shop, outdoor terraces, and a two-bedroom manager’s flat.

The on-market campaign for the pub was handled by JLL Hotels & Hospitality’s Kate MacDonald and Ben McDonald, who highlighted the attractive lease terms as being a key selling point during the divestment campaign along with ownership of the 30 gaming machine entitlements.

“This was an incredibly rare opportunity to acquire a family-operated Top 100 gaming asset with over 25 years remaining on the lease, including ownership of the 30 gaming entitlements, with passing rent reflecting only 14% of EBITDA”, suggested MacDonald.

“We’re always delighted to assist vendors in divesting long-held assets, however, to obtain a result such as this for a AAA business in greater Sydney, is incredibly exciting for JLL Hotels and our vendors.”

Further south, the Moss Vale Hotel in the Southern Highlands has been sold by Tom Porter after almost 35 years of ownership and operations. Porter is looking to retire shortly and spend more time travelling around the world.

Tom Porter and family have owned and operated the Moss Vale Hotel for 35 years.

The on-market campaign was overseen by HTL Property’s Blake Edwards and Sam Handy, and received interest from both locals and operators further afield.

“Whilst we were anticipating a strong degree of local interest in the Moss Vale Hotel, we fielded plenty of interest and several offers from Sydney, Canberra, Queanbeyan, Wollongong and Goulburn; which again underscores the fact that demand is still prominently outstripping supply for quality assets such as this one,” stated Edwards.

Ultimately, the hotel was sold to an experienced Sydney-based hotelier looking to relocate his family to the area, to the delight of Porter.

“My family and I have thoroughly enjoyed our 35 years at the Moss Vale Hotel.

“A lot of blood, sweat and tears goes into owning and operating a hotel for this length of time,” he continued.

“Accordingly there are countless happy moments and memories attached to this place for my family, however it’s time for us to pass the torch onto someone else and we’re delighted that that person is a successful hotelier.”

Another long-held, family-owned pub has just hit the market, with the famed Oaks Hotel in Sydney’s Neutral Bay being listed for sale. The nationally-renowned hotel is owned by the Thomas family, and is expected to fetch around $175 million.

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