Criterion Hotel Singleton for sale
HTL Property is pleased to announce that the Criterion Hotel in Singleton is being sold by Expression of Interest closing 18th March 2020.
The offering represents a freehold going concern hotel located in Singleton, a prosperous regional town with excellent mining, military and infrastructure employment. The hotel operation itself features a bar, bistro, large outdoor beer garden, separate building for events and a gaming room with 14 EGMs. For the first half of FY2020, the hotel enjoyed an average weekly revenue of approximately $51,000 per week.
Exclusive Agents Blake Edwards and Xavier Plunkett have been appointed by Geelong based publican Zac O'Sullivan, who is divesting his interests in the hotel after purchasing the asset in 2015.
"After almost a decade of year on year growth in the NSW Hotel Industry, we are in a situation where a broad contingent of well capitalised pub groups are competing for a dwindling supply of regional hotel opportunities; both to operate and to purchase machines from, and which is creating high transaction volumes and price augmentation" commenter HTL Property Director, Blake Edwards. "This potent buyer sentiment, combined with the excellent intrinsic qualities of the Criterion Hotel, will undoubtedly lead to a competitive sales process" concluded Edwards.
The upcoming sale program of the Criterion follows a big year of Hunter Valley Hotel hotel transactions for HTL Property, which included the Bank Hotel in East Maitland ($4.6m), The Neath Hotel ($2m) in Neath, The Denman Hotel ($1.65m) in Abermain, and the Paxton Hotel ($1.5m) in Paxton.
HTL Property, 20th February 2020
