This article is from the Australian Property Journal archive
A PRIVATE investor has bought the Macquarie Arms Hotel at Windsor for approximately $4 million.
The historic Macquarie Arms Hotel is located on the north-western outskirts of the Sydney metropolitan area and it was sold by JLL Hotels & Hospitality Group’s Sam Handy and John Musca.
The vendor was Blackwall Property Funds.
Handy said the property is positioned on a 1,545 sqm site within the commercial/retail heart of Windsor and the hotel is ripe for renovation, reconfiguration and refurbishment.
“The hotel was sold prior to its scheduled auction at a circa $4 million price point.
“The hotel’s 15 gaming machines (SIA 25), 3am liquor licence and large beer garden ensure that the business is well positioned to capitalise upon the residential development forecast in the North-West growth corridor,” he said.
The latest sale is the 17th hotel JLL has sold this year with many more to be announced.
Most recently, Musca and Handy sold the Crest Hotel at Sylvania in southern Sydney to ISPT for $19 million. They handled the sale on behalf of Reserve Hotel Group.
“At the halfway point of 2014, JLL Hotels & Hospitality has sold in excess of $200 million across 17 separate pub transactions in New South Wales alone,” Handy said.
“Robust trading conditions, historically low interest rates, a relatively clear legislative environment and certainty of government have all aligned to deliver improved purchaser sentiment and genuine buoyancy to the pub investment market.” Handy concluded.
Property Review
