Prominent South Coast hotel hits the market
JLL Hotels & Hospitality group presents to market the freehold going concern interest in the Grand Hotel, Bega NSW. Positioned in the tightly-held NSW South Coast, the hotel comprises of scalable revenue drivers which are underpinned by outstanding underlying real assets. The hotel itself is an impressive art-deco build which incorporates classic blonde tiles on the venue facade. The hotel is offered for sale by current vendor and private publican, Mr. Peter Turner, who has owned the venue for over 14 years. Mr Turner is well known throughout the Bega township and is actively involved in local sporting and community groups.
Included in the opportunity are 12 Band 2 gaming machine entitlements, 16 accommodation rooms, beer garden and a single public bar operation. The building is positioned on the main intersection of Bega and occupies an expansive 1,555sqm land-rich site with is in immediate proximity to major retailers Woolworths and Big W.
Operationally, there is immediate upside to be realised at the hotel, with the current food offering being leased to a third party on a casual agreement. This enables immediate reintroduction of the kitchen back into the business. There is also scope to enhance the gaming offering by enabling direct street access from Auckland Street. The venue would also benefit from a hands-on operator willing to further drive business performance.
The sale campaign is being managed by JLL Hotel brokers Greg Jeloudev and Edward Browne, with Mr Jeloudev noting, “The NSW South Coast is one of, if not the most, tightly-held hotel market in Australia. The Grand Hotel sale process is sure to pique market interest, particularly given the enviable mix of trade and immediate upside potential”. Mr Browne added, “The current revenue streams provide a robust platform to continue to grow the hotel business. Limited competition, coupled with excellent asset positioning ensure longevity for an incoming operator.”
The Grand Hotel is positioned in the tightly-held Sapphire Coast region on the NSW South Coast. The area is characterised by rolling green hills, rich pastures and substantial local industry. Of note, the famous Bega Cheese Factory operates within the township itself with its dairy products being household food staples within Australia.
The freehold going concern interest in the Grand Hotel is offered for sale via Expressions of Interest, closing Wednesday June 5th at 12pm midday (if not sold prior). All interested parties are encouraged to contact the exclusively appointed JLL agents.
JLL, 8th May 2024
