A Maitland-based syndicate of publicans headed by Nicholas Quinn have acquired two pubs in NSW’s Mid North Coast region in separate purchases.
The syndicate has purchased the freehold going concern interest of the Royal Hotel in Taree, and the freehold interest of the Australian Hotel in Wingham (pictured above), off the McAuliffe and Powell families respectively. Both sales were negotiated by Kate MacDonald of JLL Hotels & Hospitality, alongside Manenti Quinlan.
Situated on the banks of the Manning River, the Royal Hotel was affected by flooding just last month during the extreme rains that lashed the entire NSW coastline for a week, but the extreme weather event had little to no impact on the continued growth of the region, and the pub. The Royal is the highest ranked NSW hotel with 12 machines, turning over circa $5,500,000 in the March quarter alone.
The Quinn-led syndicate also purchased the freehold interest of the Australian Hotel, with the passive investment viewed as a long-term play within the Mid North Coast region. The Australian is the only pub in Wingham, a town of over 5,000 people, and includes 13 EGMs.
“We have loved the area for a while and the sense of community which was on full display over the last month. We are looking forward to being a part of that. I have family in the area too, so it felt right,” commented Quinn.
McDonald is confident that the Maitland group will have plenty of success with the two northern pubs.
“These guys are proven operators and will do well in Taree. The region is incredibly resilient and robust and will benefit enormously from having experienced publicans embrace the community and be a part of its growth story.”
“We thank our vendors, the McAuliffe and Powell families for allowing us to act on their behalf and divest these important assets, and we congratulate the incoming owners who are excited to take the keys later this year.”
The Quinn-led group owns a few pubs in the greater Maitland area, including the Lakeside Village Tavern, The Windsor Castle Hotel, the Rutherford Hotel and the Bradford Hotel.