Entering the procession of large-format regional operations hitting the market amid surging opportunity, the iconic Sir George Hotel is being offered for sale.
Located on the M31, a major travel route between Sydney and Melbourne, and Canberra and Wagga Wagga, Jugiong is 337 kilometres south-west of Sydney and in ideal reach for the hordes of city-dwelling residents eager to get out and about again.
The Sir George was built in 1845, on a huge 8,000+sqm lot on the banks of the Murrumbidgee River, and is famous for what is believed to be the longest singularly held liquor licence in Australia.
Mother and daughter duo Liz Prater and Kate Hufton have owned the title since 2015, paying around $750k for the tired old hotel.
They have poured millions of dollars and countless hours into the operation, which boasts a charming public bar, indoor and outdoor dining, and 11 luxury accommodation suites. There is also the Curators Collection retail store, and a well patronised on-site bakery.
The expansive gardens are ideal for weddings and events, marketing literature touting the perfect foundations for revenue growth on full-service wedding experiences, able to cater for over 150 per year.
Title on the Hotel also includes a four-bedroom private residence, a block away, on an additional 1,000sqm lot.
Sir George reports north of $5.5 million in annual revenue, across departments.
Home to only a little over 200 people, Jugiong has become a popular weekend getaway destination, offering access to the Murrumbidgee River and Hilltops Region.
Beyond an exhaustive restoration, Hufton has also had three children since buying into the pub with her mother, and looking to take a step back and prioritise family, the ladies have purchased a retirement property and are said to be returning to Western Australia.
They have appointed CBRE Hotels’ Tom Gibson and Paul Fraser, with price expectation in the vicinity of $15 million, reflecting market cap rate of around 12 per cent.
“This is an incredible opportunity to acquire a highly-profitable and well-positioned freehold going concern with no capital expenditure required,” offered Gibson.
The Sir George Hotel is being sold via Expressions of Interest, closing Wednesday, 27 October.
