Reflecting another jewel of the NSW Sapphire Coast, a private owner has offered up the riverside Moruya Waterfront Hotel.
Moruya is a picturesque coastal town between Bateman’s Bay and Narooma, straddling the fertile Moruya River. Its Hotel of the same name resides on 5,422 square metres boasting expansive views up and down the waterway.
Late-night licensed until 2am Monday to Saturday, it provides public bar, bistro, gaming room with eight machines, a sprawling waterside beer garden, bottleshop and 22 motel rooms.
The freehold held by a local investor, the pub was leased – until the tenant vacated last October.
New publican Ben Ryan stepped up to help run it on a temporary basis, and considering the state of the market, the private vendor determined to sell the hotel and motel as a freehold going concern.
It comes as NSW is seeing a rapid recovery in the value of gaming entitlements, clearing a period of supressed activity due to regulator headwinds, the price being paid bottomed at around $270k per entitlement but is now heading north of $450k.
Also, Moruya is amidst heightened activity due to the new $330 million Eurobodalla Hospital, under construction near the Hotel and due to be completed in 2027. It is expected to generate major demand for proximate accommodation both during its construction and once completed.
Local stakeholders suggest the pub will find sale price of around $6 million.
This campaign closely follows that of proximate Sapphire Coast venue the Narooma Hotel, recently sold to Ned Kelly.
An Expressions of Interest campaign closing 17 March is being managed by HTL Property’s Blake Edwards and Ben Kennedy.
“There are not very many truly waterside hotels for sale – ever,” notes Edwards, “especially ones with such amazing views and complemented by a broad trading platform.”
