Singleton’s Caledonian Hotel up for Sale
JLL Hotels & Hospitality Group is thrilled to offer for sale the freehold going concern interest in the Caledonian Hotel in Singleton, NSW.
The prominent hotel is being sold on behalf of husband-and-wife team, Helen and John Hill, who have a long and sentimental trading history with the venue. The Hill family are in their second tenure of ownership, having repurchased the asset in 2014.
The Caledonian boasts excellent investment fundamentals, including 15 prized gaming entitlements and is positioned on a high exposure, 2,226sqm corner site. There is significant potential to improve the gaming offering which already contributes $30,000 to the weekly revenues, and the Band 2 zoning allows for an increase in entitlements (subject to approval).
Accompanying the bar and bistro areas are 14 well-presented pub style accommodation rooms and a popular outdoor beer garden, adjacent to a 1,000sqm carpark at the rear of the venue that could potentially be converted into a drive-through bottle shop or additional building space (STCA). The Caledonian Hotel enjoys a diverse mix of trade to produce average weekly revenues of circa $75,000.
Having received several unsolicited offers to purchase over the past 24 months, the Hill family have exclusively appointed JLL’s Vice President Kate MacDonald and Executive Greg Jeloudev to offer the venue for sale via an Expressions of Interest campaign.
Miss MacDonald notes, “Hotel investor demand is at an all-time high in Regional NSW, in particular for locations within a 2–3-hour drive of Sydney. The Caledonian Hotel ticks all the boxes with a large landholding, 15 gaming entitlements, 14 accommodation rooms, on-site parking, and managed by single venue operators. The interest will be strong.”
Singleton is situated in the ‘Upper Hunter’ region of NSW’s Hunter Valley. The town is approximately 70kms from Newcastle with the area benefiting from strong economic and tourism activity. Robust residential population growth upholds the strength of the location which continues to serve as a genuine alternative to metropolitan areas.
The freehold going concern interest in the Caledonian Hotel is being offered for sale via Expressions of Interest closing Thursday 2 June at 4pm AEST.
For further information please contact the exclusive agents.
JLL, 9th May 2022
