The acquisition of the well-known pub adds to a number of inner Sydney hotels bought by the family-run Universal Hotels group in the past year.
[alongside publican Fraser Short buying two pubs in Richmond], and proclaims the market’s intention for the year ahead,” said Andrew Jolliffe, managing director of HTL Property.
Combined with two other pubs which have yet to hit the market – the Crown Hotel in Surry Hills and the North Nowra Tavern – the entire portfolio could sell for a combined $120 million, industry sourced suggested.Crown Hotel represents an extremely rare opportunity to enter the high performing Parramatta pub market and the Top 150 gaming segment,” said HTL Property national director, Dan Dragicevich.
HTL Capital managing director, Rick Woelms said more than 80 per cent of finance had been arranged for families and private hoteliers, while more than 90 per cent of funding had come from banks .
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