Real estate agency established in July 2018 by Andrew Jolliffe and Dan Dragicevich has transacted 20 properties in 26 weeks
HTL Property may have only got off the ground in July 2018 but the principles, Andrew Jolliffe and Dan Dragicevich, have handpicked a strong team from across the major commercial property agencies. They’re now seemingly delivering some of the most significant pub sales of 2018.
As 2018 draws to a close, the HTL Property team have revealed data for the year showing they have achieved over $300m+ in combined sales, securing 20 transactions across a 26-week period. The average deal value came in at $15m with a claimed market share of 77%.
Some of the pub sales HTL Property have handled include the sale of the Bells Hotel in Woolloomooloo to Arthur Laundy, the Salisbury Hotel in Stanmore and the Four in Hand Hotel in Paddington.
“On a year on year same period comparative basis, our records indicate an 18% increase in transaction volume, and a 22% increase in average unit sale price,” said HTL Property Asia Pacific Managing Director Andrew Jolliffe. “Whilst not of itself alone a complete summary for the state of the hospitality property market, the strength exhibited by our 26-week sale statistics certainly supports our long-held belief that the transaction landscape for AAA grade stock is as fertile now as it has ever been.”
”The cross section of hotels sold by HTL Property illustrates a robust market depth in the buyer universe,” said Dan Dragicevich HTL Property National Pubs Director.
“We’ve been deliberately highlighting some target areas, such as Newcastle and the NSW North Coast, where our Sydney buyers have shown a genuine appetite for A grade stock” said HTL Property Director Blake Edwards.
“HTL Property is particularly pleased with the past 26 weeks of sale activity,” said Jolliffe, “and following an additional AUD$100m-worth of combined unconditional sales in the past week and not yet announced to the market, we are commensurately buoyed by the direction and shape of the asset class and wholly expect 2019 to replicate the current market prosperity.”
The agency continue to publicise new sales coming to the market, including the Elephant and Castle in Bathurst.