The Tattersalls Hotel and Commercial Centre in Penrith’s CBD has sold to the Gravanis brothers’ Oscars Hotels subsidiary BMG Developments.
The Tatts is part of a 6,400sqm commercial building containing a mix of retail and commercial tenancies and 100 car spaces, previously operated by Australian Leisure and Pelathon and more recently Michael Broome’s Western Pub Holdings.
It holds 15 EGMs, ranked 491 on the Liquor & Gaming list of NSW pubs at the end of 2019.
The asset was sold by Washington H Soul Pattinson, via its managed fund PSRE Penrith P/L.
Sale price for the building has been reported at circa $28 million, to “local hoteliers” BMG Developments – founded by the directors of Oscars Hotels in 2004, amid a massive restructure of the business.
Details are scarce, and Oscars did not provide further information prior to publication.
