Few properties offer scenic surroundings as idyllic as the Alpine Inn, located in the township of Khancoban, which serves as the gateway to both the Kosciuszko National Park and Australia’s High Country. Now, JLL Hotels and Hospitality Group have announced that the property has been sold to a Sydney-based food and beverage hotelier.
The venue was sold on behalf of Snowy Mountains local, Mr. Ignazio Mondello, who after 19 years of ownership has successfully divested the asset. The venue is currently tenanted with a month-to-month rolling lease providing flexibility to re-staple operations.
JLL Hotels’ Executive Greg Jeloudev facilitated the on-market transaction, which garnered interest from an array of hospitality and alternate use aspirants.
Mr. Jeloudev stated that, “the Alpine Inn demonstrates sound investment fundamentals comprising a mix of gaming, accommodation and genuine operational upside.”
The sale included 8 valuable gaming machine entitlements, a 36-room motel, residential house and associated pub infrastructure. Situated on approximately 4 acres of land, the purchaser is aiming to conduct an extensive renovation on the pub and motel rooms, to update facilities and attract new interest from tourists.
Khancoban is located in the Snowy Valleys’ LGA and is in close proximity to the Kosciuszko National Park. The area is categorised by rolling mountains, beautiful freshwater streams and an abundance of native wildlife. The ‘Snowies’ region continues to benefit from infrastructure projects such as the continuation of the Snowy Scheme in Snowy 2.0, as noted by Mr. Jeloudev.
“Inimitable locational drivers such as the Snowy Scheme and the undoubtedly picturesque scenery ensure the Alpine Inn will have a strong following for decades to come.”
The sale of the Alpine Inn is yet another example of a freehold pub sale with repositioning potential, which closely follows the sale announcements of the Globe Hotel in Deniliquin, the Howlong Hotel, and the Post Office Hotel in Gulgong.
