Fitzroy Hotel Windsor on the market HTL
Sam Handy and Blake Edwards of HTL Property have been appointed exclusively to lead the sale of the Fitzroy Hotel. This follows their recent sales, which included RG McGee’s (6.5 million dollars), The Royal Hotel (18 million dollars), and the Clarendon Tavern (6 million).
On advice from HTL Property tenants Craig and Michelle Thomson agreed to sell the property and business together. This allows the market to purchase a freehold, going concern.
The hotel occupies a 1,319-square-metre site in the heart of Windsor’s central retail/commercial district. It has a liquor license that allows it to operate until 3 am, with 16 gaming machines.
A Quick Look:
- The hotel will be sold as an ongoing business with a freehold included.
- The hotel’s performance in the gaming category was ranked 684 for the quarter ending December 2019.
- Expressions of interest close at 4 pm on the 26th of March 2020.
The hotel’s performance in the gaming category was ranked 684 for the quarter ending December 2019.
It is generally accepted that the business offers compelling upside levers to an incoming owner willing to invest some much-needed capex in critical areas.
Sam Handy, HTL Property Director, said, “There are few entry-level Western Sydney large format freeholds that exhibit such strong investment fundamentals and offer such clear and demonstrated upside levers, which can be accessed easily via strategic capex.”
“We have seen experienced hoteliers like Ashton Waugh, Peter Wynne, and others invest in this area. This quote should inspire confidence in other investors when assessing a property’s geographic viability.”
Also available is the adjacent retail property, which covers 756 sqm.
An incoming operator could acquire the adjacent retail property to increase its gross trading footprint.
Windsor and Richmond have both seen recent releases of land for residential development. These are a testament to the strong growth in population and expected demand.
Windsor is located at the edge of the North-West Priority Growth Corridor, which will deliver 33,000 new houses to accommodate more than 250,000 new residents.
Marsden Park, a development within the precinct, will provide 10,000 residents.
Blake Edwards, HTL Property Director, said: “The growth drivers and demand drivers in the North West corridor are obvious and compelling.”
There are many large-scale residential, infrastructure, and land releases near Windsor. This bodes well for the long-term success of the region.