A Newcastle publican has continued a buying and selling spree across regional NSW, adding The Tourist Hotel in Queanbeyan to his pub portfolio.
A syndicate led by NSW publican Nick Quinn has taken ownership of the freehold going concern hotel in a deal believed to be in the vicinity of $14 million.
The pub recently went through a refurbishment and includes a bar, bistro, beer garden, outdoor gaming room and 18 accommodation rooms.
Mr Quinn and publican Sean O'Hara this week sold Windsor Castle Hotel in East Maitland for an inland regional record of $51 million.
Mr Quinn is also part of syndicates which recently purchased the Manning River Hotel in Taree and the Thomas Blamey Tavern in Wagga in deals worth a reported $20 million and $27 million, respectively.
Situated on nearly 2000 square metres of land, The Tourist Hotel also features a 3am liquor licence for Monday through to Saturday and 16 gaming machine entitlements.
The off-market sale was exclusively managed by HTL Property director Blake Edwards and national director Dan Dragicevich.
Mr Edwards would not comment on the sale price but said Queanbeyan was a desirable location for purchasers due to its low proportion of pubs relative to the population.
"Queanbeyan is a patently high-performing gaming area and the pubs are commensurately tightly held," he said.
He said buyer activity remained strong for premium hotel assets.
The sale comes days after a renowned Sydney pub hit the market this week with $175 million price expectations.
For those with a more modest budget, the Wellington Hotel in the Central West region of NSW is for sale for less than $800,000.
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