Roche Group pots another New England hotel
Roche Group has acquired another pub, this time in Uralla, on the Northern Tablelands.
The Thunderbolt Inn – developed in 1909 as The Bottom Pub – is trading for over $3 million.
The vendor, Moore’s Investments, directed by Warren Moore, was represented by HTL’s Xavier Plunkett with Nick Tinning, of Chris Tinning & Co.
Uralla connects New England’s two largest regions – Tamworth and Armidale.
Last month, in the latter town, Roche spent over $5m for the Royal Hotel.
Thunderbolt Inn
At 31 Bridge Street, Uralla, the Thunderbolt Inn contains a full format pub with public bar, bistro and gaming room with nine electronic gambling machine licenses.
About 6000 square metres of the site is undeveloped and marketed for its potential to be subdivided and sold down (story continues below).
“It is a strategic that fits in well with the Roche Group’s wider regional hotel strategy,” Mr Plunkett said of the acquisition.
“The current tenant will continue to operate the business in the short term; however the incoming purchasers enjoy the capacity and intent to operate the hotel at the expiration of the current lessee’s interest,” he added.
Multiple offers were received following an off-market campaign, according to the agents.
Late last month, publican Jim Knox spent $13.25m on Armidale’s Whitebull Hotel.
Not long later, he outlaid a speculated $7m for Moree’s Royal Hotel, about 260km west of Uralla.
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