The freehold interest in the Royal Hotel in Taree has been sold to a group of local private investors following an expression of interest campaign by JLL Hotels & Hospitality Group.
The venue comprises an impressive front bar, 12 accommodation rooms with a manager’s residence, a large rear courtyard with water views of the Manning Rivers, plus a spacious bistro and modern commercial kitchen.
JLL Hotels Executive Edward Browne and Vice President Greg Jeloudev facilitated the transaction and Browne said: “The comprehensive offering of the Royal Hotel encompasses everything required of a successful hospitality operation and as such, the campaign received sound interest from established operators and new market entrants.”
The venue was sold to a local group of private investors who add the venue to an existing portfolio of hospitality assets. The group will seek streamline the food and beverage operation with the goal of providing a premium hospitality offering to the Taree market.
JLL said that regional hospitality assets positioned in strong NSW towns continue to generate significant interest from the market, particularly those with multiple revenue streams and sound trade figures.