Ashton Waugh and Co are growing the pot, swooping on the O’Hara-owned Kelso Hotel in NSW landmark Bathurst.
The Kelso is a large-format pub on a prominent corner, first established in 1860. It incorporates a classic public bar, gaming room with 20 EGMs, late-trading 3am licence, and 12 accommodation rooms.
Bathurst is a regional icon of NSW, home to nearly 40k people and known for both agriculture and tourism, highlighted by the annual Bathurst 1000 motor race, this year scheduled for 6-9 October.
The pub has been bought by a syndicate led by the well-known hotelier, adding to Waugh’s regional portfolio, which already includes the nearby Family Hotel of Bathurst, and both Joe Maguire’s Pub and the Tudor Hotel in Tamworth.
Sale price was not disclosed, but sources say the vendor was looking at around $16 million for the freehold going concern.
Vendor was Liam O’Hara, who still owns Paddy’s Hotel, also in the Bathurst suburb of Kelso, and whose family owns a significant collection of pubs throughout NSW.
Liam is understood to be taking a step back, downsizing with a view to consolidating and streamlining his commitments.
The property was sold off-market by Blake Edwards of HTL Property. The company reports this as its 25th regional NSW hotel sale already for 2022, as stabilising economies and tourism patterns continue to benefit populous areas outside the cities.
“With regional areas enjoying prolonged favouritism post the opening of domestic and international borders, we anticipate continued strong interest from both local and metro-based buyers for A-grade hospitality assets,” suggests Edwards.
