Ben Tufrey is free to pursue retirement, having sold his long-held Grand View Hotel in the Mountains to a Chinese investor.
Tufrey has owned and operated the Grand View for 16 years, virtually “going through the motions” in the past few years, looking toward retirement and time away from the every day.
“It’s been great, but we are getting old and want to do a bit of travel and spend with some time with the kids,” he said.
The big two-storey pub was built by Tooth & Co in the 1930s, replacing the original structure, on the site since 1880. It is the only pub in the tourist route town of just over 6,000 residents, 90 minutes from Sydney.
Occupying a generous 4,074sqm block on the Great Western Highway in Wentworth Falls, it features a bar, bistro, beer garden, gaming room with nine EGMs and 17 pub-style accommodation rooms on the upper level.
Designed in the Inter-War Free Classical style, it boasts fireplaces throughout and stained glass windows, with historic photos adorning the walls.
Offering ample parking and the former bottleshop building, the block holds potential for further amenities, and capitalisation on its magnificent views and aspect so popular with tourists.
The Grand View was marketed by HTL Property’s Blake Edwards, who reports a strong result and buyer looking to spend “significant money” upgrading the accommodation and other revenue streams.
“The asset was sold on a sub-10 per cent yield, which demonstrates the continuing strength of the regional NSW hotel market.
“This is the second such hotel asset that has been sold to a Chinese buyer by HTL Property in the last 18 months,” advises Edwards.
