Situated in one of NSW’s premium regional locations, the Parkview Hotel in Orange is now being put to market for the first time in over two decades.
There have been countless unsolicited approaches from investors as they continuously seek quality hotel investment opportunities such as this one in strong regional locations. The private family owners have exclusively appointed JLL Hotels Vice President, Kate MacDonald, Senior Vice President, Ben McDonald and Executive Greg Jeloudev to spearhead the Expressions of Interest campaign which is set to commence on 11 May 2022.
Strategically positioned in the heart of Orange, one of the most popular regional destinations in Australia, the hotel sits on almost 1,500sqm and boasts the only outdoor beer garden in Orange CBD, with 14 ensuited hotel rooms delivering an occupancy rate of over 80%. The opportunity is also underpinned by 12 gaming machine entitlements and an under-utilised 3am trading approval in a Band 3 location, thereby future-proofing the trading proposition for incoming operators and investors.
JLL Hotels Vice President Kate MacDonald believes that this campaign will be one of the most hotly contested due to the scarcity of quality on-market regional opportunities and the undeniable appeal of Orange itself, which has unequivocally grown in stature following the domestic tourism boom over the last 3 years. Ms MacDonald noted, “The vast majority of recent pub transactions in Orange have been negotiated off-market, leading to disappointment from a variety of investors vying for a chance to secure an asset in this AAA regional location. ‘The Parky’ as it’s affectionally known, ticks all the boxes for operators looking to target food, beverage, gaming and accommodation dollars."
The Parkview Hotel is for sale via Expressions of Interest, closing on Tuesday 7 June 2022 (unless sold prior). View listing here