JLL Hotels & Hospitality have been exclusively appointed by Hayes Advisory to sell the Nambucca Hotel in Macksville.
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The hotel sits on a 1686 sqm site within the commercial/retail heart of Macksville and the selling agent said the pub is well positioned to capitalise on the $780 million upgrade of the Pacific Highway between Warrell Creek and Nambucca Heads.
JLL’s Sam Handy will steer the campaign, with the property listed for sale via expressions of interest closing on October 9.
“Demonstrating an annual turnover in excess of $4 million, the Nambucca Hotel represents an opportunity to acquire an entry-level Mid North Coast pub with compelling upside across all revenue streams,” Mr Handy told the Guardian.
“There is an obvious opportunity to create an outdoor smoking-solution for the hotel’s existing 12 gaming machines and it already boasts an outstanding retail liquor business delivering in excess of $50,000 per week.”
Mr Handy said the upgrade of the Pacific Highway, more specifically the construction of the new bridge across the Nambucca River, will significantly improve the overall accessibility and amenity of Macksville.
NSW Roads and Maritime has appointed Acciona Ferrovial to build the upgrade between Warrell Creek and Nambucca Heads and construction is scheduled to start in November.
Mr Handy said the hotel will immediately benefit from the forecast number of 5000 construction workers who will be required to complete the highway upgrade.
“The hotel will likely attract interest from both Brisbane and Sydney as well as local pub operators seeking a strategic retail liquor business,” he said.
JLL Hotels & Hospitality has transacted 20 Sydney pubs in 2014 with more announcements expected soon.