Knox Group takes Armidale hotel from Roche family
The Roche family has completed its exit from Armidale’s Railway Hotel, with New England hotelier Jim Knox’s Knox Group taking control after a 12-month settlement.
The freehold going concern at 222 Rusden Street contains a hotel licensed to trade until 3am with a bar, bistro and gaming room with 13 Band 2 electronic gambling machine entitlements.
On 3819 square metres, the site also includes over 60 car parks and a drive-through bottle shop.
Weekly revenue when it was listed for sale last year was c$80,000.
Knox Group is speculated to be paying c$9 million.
HTL Property’s Xavier Plunkett and Ben Kennedy were the agents.
Hotel reweigh
The Roche family acquired the Railway Hotel in late 2021 through DB Pubs Pty Ltd, paying about $8m million to freeholder Brett Groundwater and operator Charlie Redmond of Hospitality Dynamics.
The acquisition added to the group’s New England hotel holdings (continues below).
In mid-2024, it sold Armidale’s Royal Hotel to Harley Payne for $10m.
Development upside
About 800 sqm of the Railway Hotel site can be immediately developed.
Armidale Regional Council previously approved a 16-room motel.
Mr Knox is also considering further works, having lodged a separate development application.
Mr Plunkett said the transaction was the 22nd freehold going concern hotel deal the agency had completed involving the Roche Group and/or Knox Corp over the past decade.
Armidale is about 110 kilometres north-east of Tamworth,
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