One of Sydney's longest-owned hotels is set for a new course, having just changed hands for the first time since it was built in the 1950s.
Situated in Western Sydney, Pendle Inn sits on a 7,564 square metre site opposite the Pendle Hill Train Station, 30 kilometres west of the Sydney CBD. The hotel facilities include public bar, bistro, gaming room with 30 gaming machine entitlements, large drive-thru bottleshop, outdoor terraces, accommodation rooms and offers future town centre development scope.
The private individual family stakeholders stated that they are “Delighted with the outcome generated in an off-market capacity by JLL Hotels’ Ben McDonald and John Musca”.
“It is particularly fulfilling when you can drive great results for respected and long-time industry stakeholders and in doing so, present such a wonderful opportunity for the incoming hotelier”, suggested Ben McDonald, JLL Hotels Senior Vice President.
The Sydney hotel market continues to see record levels of capital flows into the sector with last week's sale of the Earlwood Hotel for $45.2 million adding to the long list of large Sydney hotels to have changed hands this year, and with numerous other hotels mooted to currently be in final stages of changing hands.
“We have seen over $1.3 billion of pub hotel transactions nationally in the last 12 months, with significant activity now emerging in the traditionally tighter-held markets of Melbourne and Adelaide, testament to the resurgent capital prioritisation of the sector,” said JLL Hotels Managing Director John Musca.
The exclusive agents decline to comment on the transaction value.
