The strength of the regional pub sales market continues to hold after the sale of the Sportsmen’s Hotel in Wagga Wagga, the second hotel sale by HTL Property in the city in the last six months.

HTL managed the sale on behalf of the Stratton family and the asset was quickly picked up by a syndicate led by Sam Cruikshank and including local publican Sean O’Hara.

The syndicate also owns the Turvey Tavern in Wagga Wagga.

“We were already strong believers in Wagga Wagga as a regional centre, and when we heard the Stratton’s were selling we were keen to be a part of the conversation,” Cruikshank said.

“Capacity restrictions made trading challenging post CV-19, so now that things are returning to normality we are confident we can return the venue to its former glory.”

O’Hara is an experienced publican within the Wagga Wagga pub scene having operated pubs within the area for several years, including the Farmers Home Hotel and the Kooringal Hotel.

The sale was exclusively managed by HTL Property’s Director Blake Edwards, who said: “Stock remains tight for hotels in strong regional locations, which is providing for some fierce competition between buyers.

“While prices are at record highs, relative to other asset classes they remain extremely attractive investments to experienced operators and astute investors.

“We are currently working on another Wagga Wagga hotel transaction and are hoping to make a separate announcement in this respect in the very near future.”

The hotel is located on a block of over 2000sqm with off-street parking and features a bar, bistro, large beer garden, gaming room with 14 EGMs, five accommodation rooms and a 2am liquor licence Thursday to Saturday.

The suburban location and close proximity to the Wagga Wagga racetrack are strong location characteristics that have made it a perennial high performing pub asset.

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Andy Young

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

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