Rodney ‘Ned’ Kelly of Kelly & Co Hotels has sold the Tattersalls Hotel, located in Casino in NSW’s Richmond Valley, in a freehold sale overseen by JLL Hotels.
Though the new owner has not yet been announced, JLL Hotels has confirmed that it is an experienced hotelier with a growing portfolio.
The Tattersalls Hotel is positioned on an expansive 1,944sqm lot, which offers multiple dining options and an outdoor beer garden. It also features a newly constructed gaming room with 22 machines, a significant number within the broader Richmond Valley. In addition, the 20 short-term accommodation rooms offer an additional revenue stream, with six of the rooms having been recently refurbished. The hotel also sits within a Band 3 red zone, protecting the asset from future competition.
JLL Hotels specialist broker, Greg Jeloudev, who managed the sale alongside Kate MacDonald and Edward Browne, said that the regional pub sale market is strong.
“The regional market continues to gain momentum as active participants are now accustomed to the current debt environment and serviceability requirements. The outstanding revenue profile of the Tattersalls Hotel ensures this criteria was easily met, with the purchaser adding the venue to an impressive existing hotel portfolio,” he said.
Casino is situated on the banks of the Richmond River, 60km west of Byron Bay and 90km southwest of the Gold Coast. The main economic hub for the Richmond Valley, the town benefits from strong cattle, timber and manufacturing industries.
Kelly & Co Hotels has sold a number of pubs in NSW over the past 12 months, including the Corindi Beach Hotel, the Old Bar Tavern, and the Centennial Hotel in Gulgong.
