Local publican Jim Brown has taken advantage of the buoyant hotel property market and sold his Mungindi pub after 20 years of ownership. 

The Jolly Swagman is just 250 metres from the Queensland border, and as the only pub in town, enjoys strong patronage, according to JLL Hotels & Hospitality Group which managed the sale.

The Jolly Swagman includes six motel-style accommodation rooms and occupies a 2,023sqm corner site, has four gaming machine entitlements, a 1:30am licence, and brings in around $30,000 or more per week. 

The new owners are private publicans who are adding to their growing regional portfolio. 

JLL Hotels executive, Greg Jeloudev, who facilitated the off-market private treaty transaction, said regional hotels continue to appeal to investors due to their returns and the ability to diversify portfolio structures. 

“Venues with gaming machine entitlements, accommodation rooms and strong takeaway sales continue to be highly sought,” he said.

Over the past week, other regional venues have changed hands including The Bentleys Hotel in South Australia’s Clare Valley which was acquired by Matthews Hospitality, and a consortium led by Lee Green from the South Dubbo Tavern that included Sean O’Hara, Arthur Laundy and son, Stu Laundy bought the Thomas Blamey Tavern in the NSW regional town of Wagga Wagga.

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