Australian Hotel in Cooma expected to sell for more than $3 million
A historic hotel in the southern NSW town of Cooma is being sold at auction with a sale price of more than $3 million expected.
Built in 1858, the Australian Hotel does strong trade thanks to its 15 gaming machines entitlements, giving it 45 per cent of the town’s gaming machines, according to HTL Property director Blake Edwards.
“The Australian Hotel is well-positioned within the Cooma CBD, and possesses the necessary core trading attributes to be the best gaming and wagering operation within Cooma,” Edwards told Commercial Real Estate.
HTL Property’s Xavier Plunkett said the pub’s location means it is set to benefit from the workforce brought in to construct the Snowy 2.0 infrastructure project.
“The hotel will be a direct beneficiary of the enormous infrastructure spend, and the subsequent increase in new employment expected in the area as a result of the federal government’s 10-year, $7 billion, Snowy 2.0 expansion,” he told Commercial Real estate.
The Australian Hotel will go to auction on March 5 in Sydney.
Sheridan Randall, 19th February 2020
