Award-winning Central West hotel sells to local investor
JLL Hotels & Hospitality Group in conjunction with Moore & Moore Real Estate, are thrilled to announce the sale of the award-winning Railway Hotel in Parkes, New South Wales.
The hotel was sold on behalf of Bianca Sheridan and Kasie Fergusson who purchased the hotel in 2010 and have spent the past 11 years building one of the most renowned pub destinations in the Central West.
The freehold going concern sale includes a 24-hour hoteliers licence, ground floor public bar and dining room, gaming room with valuable 6 GMEs, and outdoor beer garden. The first floor incorporates the city-style ‘Hart Bar’ named after the couples’ first child, and acts as the local hub for entertainment and cocktails in Parkes, as well as a fully renovated 3-bedroom manager’s flat.
JLL Hotels Vice President, Kate MacDonald, alongside Deane Moore, facilitated the transaction by way of a public Expressions of Interest campaign.
“Bianca and Kasie have truly created a local gem at the Railway”, reported Moore. “Their undeniable work ethic and ability to listen to the community’s desires for a local hospitality destination has allowed them to successfully divest and move onto the next big adventure for their family”, he added.
Sheridan and Fergusson are excited for the next step stating “We are very proud of the venue we have built and all we have achieved. We are extremely grateful for our industry and all the opportunities it has given us. We would like to thank everyone that has made our journey possible, all the team members over the years, our loyal customers, our family and the ongoing love and support of the Parkes community. We are excited to have a little break then start afresh and focus on us and our 3 beautiful kids.”
MacDonald is optimistic about the continued momentum in the regional hotel sales market commenting “JLL Hotels & Hospitality has transacted one NSW regional hotel every two weeks so far in 2021 and have more than 10 others in various stages of the sales process. Whilst travel restrictions are imposed and interest rates remain low, we cannot see the regional frenzy subsiding any time soon.”
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.
JLL 6th July 2021
