By Clyde Mooney – editor Australian Hotelier

The elegant Rose & Crown Hotel has sold amid bids from a wide range of qualified parties and investors.

Wrapping up the on-market tender campaign for the prominent venue in Parramatta – one of the fastest growing urban areas in the country – the successful bidder was another investor, and significantly a new entrant to the hotel sector.

CBRE Hotels took the Top 200 venue to market on behalf of private investor partnership TWL Hotels, and insist the nature of the purchaser demonstrates the truth of “new capital entering the market”.

“The venue generated significant investor interest from around the country and from a variety of purchaser types – attracted to not only the successful hotel operation, but the prospect of investing in the vibrant Parramatta precinct,” says CBRE Hotels director Dan Dragicevich. 

The freehold going concern hotel has enjoyed tightly held ownership, having had only two freehold owners in the past 100 years, and TheShout understands the incoming owners will be engaging operators to manage the business.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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