Port Macquarie has strong economic and population growth prospects driven by both the existing airport, university and hospital infrastructure, as well as several large-scale residential master planned communities.
One such community is Lewis Land Group’s Sovereign Hills mixed-use masterplan, which comprises 2500 new dwellings, a 25,000-square metre town centre and significant other facilities designed to support the growth of this corridor.
HTL Property managing director, Andrew Jolliffe, said there were very few hotels nationally like the two Port Macquarie hotels on the market.
“When combined with the unparalleled pace at which the north coast region is growing both economically and in terms of its population base, the opportunity to acquire scale is so incredibly rare,” Jolliffe said.
He said that over the past few years, the Lennox Head hotel, both pubs in Byron and the Brunswick Heads Hotel had sold to highly regarded purchasers, and the Port Macquarie Hotel and stablemate the Tacking Point Tavern would be no exception.
Situated at the epicentre of Port Macquarie’s CBD and within the beachside suburb of Lighthouse Beach respectively, the Port Macquarie Hotel and Tacking Point Tavern occupy prominent commercial footprints both adjacent to major shopping centres.
The Tacking Point Tavern in Port Macquarie, NSW.
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“Both pubs enjoy the benefit of multiple revenue streams, each operate with 30 gaming machines and in the case of the Port Macquarie Hotel, a historically strong accommodation business,” said HTL Property national director Dan Dragicevich.
“The other critical attraction is the underwritten strength of Port Macquarie, whereby a local government area with more than 87,000 people is serviced by only eight hotels.”
Jolliffe added that with the prosperous tourism dollar hardwired into the city, residential growth at unprecedented levels and nothing to spend on two of the area’s key hotels, “the value proposition is as magnetic as we’ve seen”.
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