JLL Hotels & Hospitality Group is thrilled to announce the sale of the freehold going concern interest in the Junction Hotel, Broken Hill NSW.
The venue was sold via an off-market process on behalf of long-term owners Di and Terry Barclay. The hotel is well renowned for its quality food offering with Silvers Restaurant operating within the pub.
The Junction Hotel is located in the historic mining town of Broken Hill, which is a 6-hour drive north-east from Adelaide and a 9-hour drive north-west of Melbourne. The venue is positioned on a 1,144sqm corner site and includes a residential home, manager’s office and pub infrastructure. The sale includes 9 highly prized gaming machine entitlements with the venue enjoying diversified income from F&B, gaming and sound function trade.
JLL Hotels Executive Greg Jeloudev facilitated the off-market transaction and notes the underlying investment fundamentals being the drivers for the ultimate sale outcome.
Mr Jeloudev commented, “Broken Hill is a historic NSW city that is underpinned by mining and tourism with the entire city being included in the National Heritage List. The sale of the Junction Hotel reflects the continued appetite from regional NSW hospitality venues, particularly those who exhibit a sound mix of food, beverage and gaming trade.”
The venue was sold to a private publican who adds another venue to their hospitality portfolio.
The sale of the Junction Hotel demonstrates JLL’s true geographical breadth in the NSW regional market, and closely follows sale results at the Tyalgum Hotel (NSW North Coast), Khancoban’s Alpine Inn (Snowy Mountains), and the Globe Hotel in Deniliquin (Edward River Council). The NSW Regional pub market continues to be a highly sought with investors continuing to see diversification from metropolitan areas.
JLL Hotels thank the Barclays for entrusting the firm with this important mandate and congratulate the purchaser on their new acquisition.
To request a sales analysis please contact the selling agent JLL Hotels Executive Greg Jeloudev via the below contact details.