Ned Kelly boosts regional pub portfolio
Ned Kelly has added Casino’s Tattersalls Hotel to his regional pub portfolio.
At 136 Barker Street, the c1859 double storey building – also with 20 accommodation rooms – occupies a 1944 square metre site with 50 car parks.
The vendor, Craig Lusby, has held it 10 years and will now retire.
The c$10 million deal includes eight electronic gambling machine entitlements from the nearby Oxford Hotel, owned by the same vendor.
Tattersalls Hotel
In the Northern Rivers region, about 70 kilometres west of Byron Bay, the Tattersalls Hotel includes a public bar, bistro and function room.
It already had 14 electronic gambling machine licenses.
Mr Kelly, who directs Kelly & Co, is expected to refurbish the asset and reposition the business, with a steakhouse focused menu and live music.
Casino has a population of about 11,000 (story continues below).
“In addition to being the highest performing gaming venue in the entire Richmond Valley LGA, the offering presented significant operational upside across all revenue departments,” HTL Property’s Xavier Plunkett, who sold the Casino freehold going concern, said.
“Additionally, there exists patent benefit in amalgamating the gaming entitlements from the closest proximate venue, combined with the Band 3 zoning which largely inhibits any further gaming competition in the future,” according to the agent.
Nine months ago Mr Kelly paid c$4m for Weston’s Criterion Hotel.
Not long earlier the publican acquired Scone’s Royal Hotel-Motel.
Last February, just before the first national lockdown, the businessman purchased Gulgon’s Centennial Hotel and the Global Hotel at Rylstone which, like the Casino property, was developed in the 1850s.
Kelly’s Irish Pub in Mudgee and the Old Bar Tavern in Old Bar are also held by him.
Following settlement of the Tattersalls Hotel, Mr Kelly – who co-established the Riverside Group (which he left in 2014) – holds eight regional NSW venues.
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