As deal flow in the pub market continues to gather momentum in 2023, JLL Hotels & Hospitality Group has launched the sale of Doonside Hotel – a large format asset situated in one of Western Sydney’s fastest growing locations.
JLL Executive Vice President Ben McDonald, Senior Vice President Kate MacDonald and Managing Director John Musca have been appointed to steer the campaign on behalf of private family stakeholders seeking to scale back their going concern hospitality interests.
Doonside sits within the Blacktown City Council Local Government Area approximately 34 kilometres west of the Sydney CBD. Best described as ‘Western Sydney Heartland’ Blacktown LGA is a diverse business hub, with a rising population of approximately 415,579 making it the largest LGA in NSW with prospects to grow to 645,000 by 2041. This explosion in forecast population growth has seen numerous recent announcements to enhance amenity for residents including a $3 Billion commercial development pipeline and one of the largest CBD redevelopments announced in recent times.
The pub itself sits on a significant 7,278sqm land parcel and is proximate to Doonside Train Station and retail strip thereby making the hotel genuinely accessible to an expanded audience of patrons. With strong and diverse weekly revenue averaging in excess of $170,000 per week, 26 gaming machines, 14 first floor accommodation rooms and drive thru bottle shop, the earnings profile of the business is nicely hedged for the future and sets up enormous multi-channel revenue growth options.
Ben McDonald noted; “With opportunities of scale continuing to diminish as the ownership consolidation thematic continues to play out in the asset class, Doonside Hotel offers potential suitors a fantastic opportunity to capitalise on what is a rare and fundamentally strong trading hotel.”
“Having recently sold the Commodore Hotel in North Sydney for $29m we anticipate unsatisfied capital to pursue assets such as Doonside Hotel and others as confidence in the market continues to build.” Added Kate MacDonald.
The Expressions of Interest Campaign is set to close on Thursday 8th June 2023 (unless sold prior).
To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.
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