Third Southern Highlands Region Hotel Sold in as Many Months
HTL Property is proud to announce the sale of The Sutton Forest Inn in the Southern Highlands of NSW. The Sutton Forest Inn has sold to Sydney based publicans Ray Reilly and business partner Luke Dryland.
The transaction was exclusively managed by HTL Property Directors Blake Edwards and Sam Handy, who brokered the off market deal on behalf of long time owner David Dickenson for a sale price of around $4m.
"We introduced this asset to the purchaser some years ago, but at the time were unable to find could common ground. However with the current strength of the market, many assets that were challenging to sell previously are now enjoying mutual engagement between buyers and sellers" commented HTL Property Director, Blake Edwards.
"The scarcity of hotels for sale and increasing buyer demand is creating a perfect storm for hotel vendors; consequently, we are running out of things to sell and encourage any potential sellers to contact us if they are considering selling their asset” added HTL Property Director, Sam Handy.
Established in 1936, the hotel is set amongst the rolling green hills of the Southern Highlands, and is perched on an enormous 20-acre block of land. The two-level brick hotel features a bar, bistro, 8 gaming entitlements, 10 accommodation rooms and a large beer garden.
The sale represents HTL Property’s third hotel sale in the broader Southern Highlands region in only three months. The Empire and Southern Railway Hotels, both in Goulburn, transacted in late 2019 respectively.
HTL Property, 25th January 2020
