Hamilton’s Greenroof Hotel on Offer
JLL Hotels & Hospitality Group, in conjunction with Moore & Moore Real Estate, exclusively presents to market the freehold going concern interest in the Greenroof Hotel in Hamilton NSW. Positioned in one of Newcastle’s most coveted suburbs, the Greenroof Hotel holds all the ingredients for a robust hotel operation. The venue has previously been utilised as a late-night destination for Newcastle’s university crowd and has now been repositioned towards a community focussed hotel. The venue is offered for sale on behalf of private publican, Russell Richardson.
The Greenroof Hotel is positioned on a 1,170sqm site on Tudor Street in the heart of Hamilton. The asset boasts excellent pub fundamentals, underpinned by 15 valuable gaming machine entitlements and a 2.30am hotel licence. The business comprises of a robust mix of trade including bar, food, accommodation and gaming income. There are a total of 12 underutilised accommodation rooms, of which 6 have been recently refurbished with the remaining rooms currently used as storage. Complimenting the hotel operation is a large weather-proof beer garden and an expansive on-site carpark, which is fully licenced.
Managing the sale are JLL Hotels pub specialist brokers Kate MacDonald and Greg Jeloudev, alongside Deane Moore of Moore & Moore Real Estate. Ms MacDonald noted that ‘Newcastle opportunities are few and far between, particularly those comprising of well-rounded revenue mix. Given the geographical positioning and underlying pub fundamentals, we expect a keenly contested sale process.’
The Greenroof Hotel has substantial upside potential via the activation of the remaining 6 accommodation rooms as well as improved utilisation of trading hours. The hotel’s licence permits a brunch service (potentially a popular offering for the weekends) and late-night closing.
Located approximately 4km west of the CBD of Newcastle, Hamilton is a diverse and thriving community comprising of young professionals, families and long-term residents. The area is renowned for excellent amenities, the popular Beaumont Street retail precinct offering an array of boutique shops and multicultural cuisines. There is also substantial transformation poised for Hamilton (as part of the Broadmeadow Place Strategy) which will include the delivery of over 20,000 new homes and the creation of 15,000 new jobs. Key developments include a new mixed-use town centre, world-class sports and entertainment precinct, and improved public transport infrastructure.
The Greenroof Hotel is offered for sale via Expressions of Interest closing Tuesday 12th of November 2024 at 12pm midday (if not sold prior). All interested parties are encouraged to contact the exclusively appointed selling agents.
JLL Hotels & Hospitality Group, 16th October 2024
