A local syndicate has purchased the Bull and Bush Hotel/Motel in the Port Stephens satellite township of Medowie ,in a deal brokered by HTL Property.

The local hotel syndicate is led by Nick Quinn and has bought the 13,000m2 property from the Feneley family, which has owned the large-format venue for 36 years.

The venue includes a single level tavern with 30 gaming machines, drive through bottleshop, a separate building incorporating 10 ensuite motel rooms and two leased retail shops with in excess of 100 car parks on title. The property is also located next door to the major shopping precinct in Medowie, adjacent both Coles and Woolworths shopping centres; and a large format hardware store.

The deal was negotiated by HTL Property’s National Director Dan Dragicevich, and colleagues Blake Edwards and Xavier Plunkett, and Dragicevich said: “The Feneley family have done an astounding job servicing the local community since 1987, with the venue a focal point for the ever expanding township and suburban catchment.

“The multipurpose property provides the incoming purchaser with already strong and consistent cash flows; and also various levers for future expansion and growth.

“We continue to see determined participation from established groups, despite some wider economic headwinds, particularly where latent operational upside and strategic geographical synergies exist.”

Edwards added: “The Purchasers were notably attracted to the enormous population growth and economic development slated for the region which, according to Port Stephens Council, will see an additional 15,000 residents over the next 15 years.”

Andy Young

Andy joined Intermedia as Editor of The Shout in 2015, writing news on a daily basis and also writing features for National Liquor News. Now Managing Editor of both The Shout and Bars and Clubs.

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