Agnew Group doubles down in Moruya
Agnew Group, behind the Hive Hotel brand, has swooped on the Moruya Waterfront Hotel Motel.
The freehold going concern hit the market February with $6m price hopes.
Formerly known as the Plough Inn and with a license dating to 1848, the site spans 5222 square metres, with significant parking.
A beer garden has views of the river and surrounding hinterland.
The building is configured with a bar, bistro and walk-in bottle shop.
There is also a gaming room with eight electronic gambling machine entitlements, 22 motel suites and a self-contained manager’s unit.
The freehold last sold in 2015 for $2.36m.
HTL Property’s Blake Edwards was the agent (continues below).
Agnew doubles down
Canberra-based Agnew has a track record repositioning old motels and hospitality venues into modern venues.
It also controls Moruya’s Hive Hotel, formerly the Luhana Motel, on 1.2 hectares.
A major upgrade is expected for its latest asset, at 1-5 Princes Highway.
Between Bermagui and Batemans Bay, on the Sapphire Coast, Moruya is some 40 kilometres north of Narooma where we reported in February Rod ‘Ned’ Kelly outlaid $15m for a waterfront pub with significant development upside.
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