The Swansea Hotel inNSW’s Lake Macquarie region has sold for around $13 million.
The CBRE Hotels team of Daniel Dragicevich and Ben McDonald sold the property off market to Laundy Hotels – the largest private hotel owner in the country that counts venues such as the Watsons Bay Hotel and the Woolwich Pier Hotel amongst its stable.
The Swansea Hotel is located at the gateway to Lake Macquarie and is situated on a large 3,235sqm site, two hours from Sydney and 30 minutes from Newcastle on the arterial Pacific Highway. The hotel was fully renovated in 2015 and has the added benefit of the full complement of 30 poker machines.
Nick Tindall, GM at Laundy Hotels, said; “We are very excited to be part of the future of the Swansea Hotel. The presentation and operation of the pub is a credit to the Bernie family and we look forward to maintaining its place amongst NSW’s premier coastal Hotels”.
Daniel Dragicevich, National Director CBRE Hotels, stated; “The Swansea Hotel is truly an A-grade NSW coastal asset with the price quantum and yield being testament to its quality. There has been a noticeable increase of investment recently in assets outside of Sydney by traditionally metro buyers and the high profile Laundy Hotel Group has been amongst those leading the charge.”
“We have sold seven NSW regional and coastal assets worth nearly $50 million this year alone as appetite continues unabated for these opportunities.” Ben McDonald, Manager CBRE Hotels, added.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.