The Royal Hotel Tumut has been sold to an unnamed Sydney-based hotel investor as the region continues to benefit from massive infrastructure investment.
The Royal is a classic two-storey brick structure on a 3,250 sqm lot, with a full-length balcony overlooking Tumut main road Wynyard Street.
It provides a welcoming public bar, kitchen and bistro, gaming room with 13 EGMs, 12 pub-style accommodation rooms and 11 freestanding motel rooms and off-street parking, plus a manager’s residence.
Long-term private owner and career hotelier Scott Cameron was looking to an exit, recognising the region is poised for significant growth. Found 400km south-west of Sydney, Tumut has a population of 6,300, but is also the nearest major town to the $4.5bn Snowy Hydro 2.0 project, slated to create 4,000 new jobs.
The Royal is one of only five pubs in the Riverina town and set to benefit from the increasing activity.
“We have no doubt the purchaser will capitalize on the significant opportunity the Royal Hotel offers going forward and we wish them every success on realising that,” offers Cameron.
JLL Hotels’ Kate MacDonald and Ben McDonald were engaged for an off-market campaign.
“Despite the prevailing economic conditions and navigating a global pandemic, our vendors have been incredible to work with, and the consistent nature of the business they built over almost 15 years, was one of the major selling points of the hotel,” concluded MacDonald.
