Vineyard Hotel sells for c$70m
The Vineyard Hotel, in Sydney’s outer north west, has sold for c$70 million.
On 7.69 hectares at 725 Windsor Road, the property includes a tavern with 30 electronic gambling machines, a 57-suite motel and a bottle shop.
A permit allowing for another 84 guest suites was also offered.
At the time it was listed in August, the venue was returning $65,000 per week.
The guide was $60m.
HTL’s Dan Dragicevich, Andrew Jolliffe and Sam Handy represented the vendor, the Stanford family, which held the asset for 42 years (story continues below).
Ten offers were received; the buyer is as yet undisclosed.
Earlier today we reported Charter Hall outlaid $6.62m for the Imperial Hotel, at Beenleigh, south east of Brisbane.
In July, that manager, with Endeavour, acquired the Terrey Hills Tavern, north of Sydney, for $39.8m – $26.3m of which was attributed to the freehold.
More to come.
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