The regional pub sales boom is continuing its strong momentum, as two more pubs in regional NSW have been sold by JLL Hotels & Hospitality Group (JLL).
The group sold the Eatons Hotel in Muswellbrook in conjunction with Moore & Moore Real Estate on behalf of the Ryan Family who have owned the pub for 17 years. The Eatons Hotel is located on an acre of land and has 15 accommodation rooms, four-bedroom managers residence, 12 EGMs, modern beer garden, public bar, commercial kitchen and large dining space for families.
JLL Hotels Vice President, Kate MacDonald, alongside Deane Moore, facilitated the transaction by way of a public Expressions of Interest campaign.
“It is a testament to the quality of the asset when an agreement is reached between parties some 2 weeks prior to the EOI close date” commented MacDonald. “Phil Ryan and his family have approached the sale of their longstanding business with integrity and professionalism. We thank them for entrusting us with the mandate.”
In a statement on Facebook family, the Ryan family thanked the Muswellbrook and Upper Hunter community for their ongoing support and patronage over the last 17 years, adding, “also, our staff past and present, we couldn’t have run a hotel of this scale without a great team behind us.
“A special mention to the Muswellbrook Rugby Club for their support over the years, it’s been a pleasure to sponsor the most overachieving club in the Newcastle and Hunter Rugby comp.
“We would also like to thank the AHANSW and our accountants DFK Crosbie for their valued support and guidance, they have assisted us in maintaining the high standards our community deserves.
“Many thanks go to Deane Moore of Moore & Moore Real Estate and Kate MacDonald of JLL Hotel & Hospitality Group, they have worked with us diligently this year to find the right deal that suited both parties.”
JLL also sold the freehold going concern interest in the Tumut Star Hotel, Tumut NSW in an off-market sale.
The hotel was sold on behalf of long-term owners Jill Groves and her son Scott, who have operated the venue for over 34 years to a prominent hotelier group.
The hotel sale includes 15 valuable gaming machine entitlements, eight accommodation rooms and is situated on a significant land holding of approximately 2638sqm.
JLL said: “The momentum continues with JLL having many more imminent sale announcements, along with some exciting off-market exclusive appointments being discussed with our valued clients. Our ongoing sales success in meeting client objectives for long-time hoteliers across the country, is testimony to JLL’s approach in conducting business professionally, respectfully and with zeal.”