String of regional NSW hotels sell
Fraser Short is paying a speculated $14 million for Jugiong’s Sir George Hotel.
The venue, which contains 11 luxury accommodation suites, eight of which are converted barns, was offloaded by mother and daughter Liz Prater and Kate Hufton – who paid $550,000 in 2015, then renovated.
Established in 1845, the property also includes a retail store, artisan bakery, restaurant and bar.
CBRE Hotels marketing agents Tom Gibson and Paul Fraser said the Sir George holds Australia’s longest singularly-held liquor license, running for over 165 years.
Their result, they added, represents a per key record for regional New South Wales.
“The Sir George is an iconic operation that represents everything good about country NSW,” according to Mr Short.
“I am very excited to…carry the baton on from Kate and Liz who have done an immaculate job in bringing this hotel, its gardens and historic buildings back to life for the community and tourists of Jugiong.
The deal comes nine months since the publican, in a partnership with Laundy Hotels and Nick and Justine Tindall, outlaid close to $15m for Evans Heads’ Hotel Illawong.
In February, Mr Short – again with the Laundy family – spent $40m for the Lennox Hotel, at Lennox Head, near Byron Bay’s The Farm, which he also owns.
Long Flat, Mudgee venues trade
Meanwhile in Long Flat, Flowers Hotels – led by Alistair and Renee Flowers and partners, locals Debbie and Aage Christianson, have acquired the Travellers Rest Hotel.
The sale price is as yet undisclosed; the vendor, the Thompson family, paid $726,000 in 2003.
On 3.8 hectares, zoned RU5 Village, and with access to the Hastings River, it has development upside – with boutique camping accommodation an option (story continues below).
The venue has four electronic gambling machine entitlements.
JLL Hotels’ Greg Jeloudey brokered the off-market deal.
Following settlement, Flowers Hotels will hold seven hospitality assets in the Port Macquarie-Hastings area.
Also this week, at Mudgee, two established motels have sold following campaigns by Manenti Quinlan & Associates’ Ray Larkin.
The Central Hotel, with nine budget accommodation rooms, is collecting $1m from Sydney buyers who intend to upgrade.
The nearby Soldiers Motel traded to local publican Jamie Fitzgerald.
“Demand for quality properties in Mudgee is at an all-time high, which is reflected by the speed of these sales and the strong pries achieved,” Mr Larkin said.
“Both properties are currently trading at above 90 per cent occupancy due to the phenomenal tourism growth the town is experiencing,” he added.
“Mudgee is a fantastic food and wine destination with a great community and culture,” according to the executive.
“Tourism was strong before COVID, but its gone to another level recently”.
Mr Larkin also recently sold Orange’s Hotel Canobolas for a consortium comprising Laundy Hotels for a speculated price of more than $24m.
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