Snowy Mountains Star hotel sold by HTL property

Snowy Mountains Star hotel sold by HTL property

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Specialist national brokerage firm HTL Property announce the Freehold Going Concern sale of the Star Hotel (Tumut) by HTL agents Ben Kennedy and Xavier Plunkett.

Owned by respected publican Robert McGhee, the Snowy Mountains hotel was sold to a local purchaser following an active on-market EOI process; which attracted vast interest from both ambitious first-time owner operators, to highly experienced hospitality groups.

“HTL Property were instrumental in delivering the sale of our hotel in Tumut, and Ben Kennedy’s energy was refreshing. I’m both grateful for and commend their professionalism” commented Vendor Robert McGhee.

The historic venue sits upon a large 2,638sqm* site with a multitude of parking and exceptional development upside levers (STCA). The hotel features an expansive first floor terrace with distant mountain views, public bar, bistro, commercial kitchen, indoor/outdoor dining areas, eight underutilized accommodation rooms; plus a manager’s residence.

Interest received throughout the campaign came from a diverse number of prospective purchasers, highlighting the ongoing demand for hotels with exceptional real estate fundamentals – including location and large land size in areas that are set to experience population growth, and which enjoy strong ties to the local community” added HTL Property’s, Ben Kennedy.

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