Affectionately known as 'The Cali', this prominent regional pub hotel in Singleton NSW has come a long way since its rustic beginnings in the mid 1800's.
The temporary structure originally used as an Inn only, comprised of wooden slab huts, no glass windows and an open fire for cooking. It was later replaced by the now standing Caledonian Hotel which is still one of the oldest hotels in the district today, but with attributes that offer excellent and much sought after investment potential for the future.
The iconic Caledonian Hotel is now on the market for sale by JLL Hotels & Hospitality Group; Vice President Kate MacDonald and Executive Greg Jeloudev being exclusively appointed by husband-and-wife team Helen and John Hill. Helen and John Hill who have a long and sentimental history with the venue, are in their second tenure of ownership, having repurchased the asset in 2014. Having received several unsolicited offers to purchase over the past 24 months, the Hill family are now offering the asset for sale through JLL's Expressions of Interest campaign.
This impressive investment includes 15 prized gaming entitlements on a high exposure, 2,226sqm corner site. There is significant potential to improve the gaming offering which already contributes $30,000 to the weekly revenues and the Band 2 zoning allows for an increase in entitlements (subject to approval). Accompanying the bar and bistro areas are 14 well-presented pub style accommodation rooms and a popular outdoor beer garden, adjacent to a 1,000sqm carpark at the rear of the venue. This has the potential to be converted into a drive-through bottle shop or additional building space (STCA). The Caledonian Hotel enjoys a diverse mix of trade to produce average weekly revenues of circa $75,000.
Miss MacDonald notes, “Hotel investor demand is at an all-time high in Regional NSW, in particular for locations within a 2–3-hour drive of Sydney. The Caledonian Hotel ticks all the boxes with a large landholding, 15 gaming entitlements, 14 accommodation rooms, on-site parking, and managed by single venue operators. The interest will be strong.”
Singleton is situated in the ‘Upper Hunter’ region of NSW’s Hunter Valley. The town is approximately 70kms from Newcastle with the area benefiting from strong economic and tourism activity. Robust residential population growth upholds the strength of the location which continues to serve as a genuine alternative to metropolitan areas. This, together with renewed interest in the pub market and investor confidence rebounding post-pandemic is believed to generate a strong interest in this asset.
The freehold going concern interest in the Caledonian Hotel is being offered for sale via Expressions of Interest closing Thursday 2 June at 4pm AEST.