HOTEL, TOURISM & LEISURE

Ballina Hotel taps into thirsty investors

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WITHIN weeks of the $4 million sale of the Australian Hotel, the New South Wales town of Ballina is set for another major pub deal.

Long-time private owners of the Ballina Hotel have decided to offload the hotel after 17 years.

Currently empty, the Ballina Hotel is strategically positioned opposite the Ballina RSL within the town’s CBD on 2,023 sqm of land.

CBRE’s Ben McDonald, Kate MacDonald and Xavier Rahme have been appointed to sell the property, which includes a 24 hour hotel licence with 16 poker machine entitlements, and close to $3 million in s94 council contribution credits attached.

MacDonald said the property presented an incoming operator with a genuine blank canvas opportunity to reinvigorate and relaunch the hotel business and capitalise on the asset’s location in one of NSW’s top three growth areas.

She said the vendors are moving to divest at a time when stock levels remain tight, underlying fundamentals are sound and demand, especially through the NSW north coast, continues to trend upwards.

Expressions of interest close 4pm on 5th March 2020. The licence and the property are offered individually or in one line.

Patrick Henderson has just sold off the Australian Hotel to Jackson Quinn. Rebuilt after being damaged by fire in 2016, the two level venue has a public bar, bistro, 12 gaming machines, beer garden and 18 hotel rooms.

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