The freehold going concern of prominent south coast venue the Star Hotel of Milton is available as generational owners look to hang up the boots.
Established in 1860, The Star occupies a substantial 923sqm site with over 30 metres of frontage to the Princes Highway, in the heart of the popular coastal town.
The hotel provides a public bar hosting live music, a bistro operated by a third party, and gaming room with 15 machines, reporting around $37k in average weekly revenue.
Vendors on the sale are Leslie Stone and her daughter Lucinda, who has assumed operations since her father passed away decades ago. The family has owned the title for more than 30 years.
It has been sent to market offering a “compelling blend of coastal lifestyle appeal and established trading performance” within one of NSW’s most desirable coastal regions, Shoalhaven LGA, with its strong tourism visitation and consistent population growth.
Blue sky is identified in reclaiming the foodservice operation, revival of the 10 accommodation rooms, and likely a relocation and reconfiguration of the gaming room. It’s suggested ‘fresh eyes’ would spot further opportunity, after decades in the same hands.
Sources suggest it is likely to fetch sale price of circa $9 million.
Milton continues to evolve as a sought-after lifestyle destination and The Star, with its heritage character, benefits from a tightly controlled development environment that will serve to preserve its long-term value and limit competitors.
Located around 220 kilometres south of Sydney, it is only minutes from Ulladulla Harbour and Mollymook Beach and 35k local residents. This makes it central to the area’s strong ‘sea-change’ migration trend and the 3.5-4 million visitor nights seen annually in the broader Shoalhaven region.
A sale program through HTL Property’s Blake Edwards and Ben Kennedy speaks of a “well-balanced and resilient earnings profile” behind the asset, being sold through an Expression of Interest campaign closing Thursday, 28 May.
“The Star Hotel represents a classic coastal freehold opportunity, combining consistent trading performance with genuine upside potential,” says Edwards.
