Historic Tamworth Hotel sold
Publican Jim Knox has bought the Tamworth Hotel from Sydney-based investor Daniel Whitten.
The freehold at 147 Marius Street cost $3 million in a deal settling in July.
Opposite Tamworth train station, the two-storey c1936 Art Deco property includes a bar, bistro and gaming room with seven electronic gambling machines,
On 3219 square metres there is also a beer garden, bar, stage and drive-through bottle shop with dual street access.
It has a 2am trading licence from Wednesday to Saturday.
Also this week we are reporting Elanor Investors Partners sold the freehold to the nearby Best Western Sanctuary Inn, held four years on behalf of the Elanor Hotel Accommodation Fund, for $9.2m.
The City Sider Motor Inn at 237 Marius St traded too, for more than $9m.
Diversified income
The upper level of the Tamworth Hotel contains 14 accommodation rooms with shared bathroom facilities and a manager’s residence (continues below).
The bathrooms were renovated in 2023.
It has also been soundproofed to support live music in the beer garden.
The hotel was marketed as a freehold going concern generating more than $115,000 a week revenue excluding GST across food, beverage, gaming, accommodation and bottle shop sales.
Parts of the block can be developed.
Mr Whitten paid $3.65m for the freehold in 2016. It was listed as part of a portfolio consolidation.
The publican retains the Robin Hood Hotel at Charing Cross in Sydney after an unsuccessful marketing campaign in 2023 when it was seeking over $60m.
JLL Hotels & Hospitality’s Greg Jeloudev, Kate MacDonald and Edward Browne marketed the Tamworth Hotel.
Subscribe to our newsletter at the bottom of this page.
