The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
UPCOMING EVENT - INDUSTRIAL AND LOGISTICS SUMMIT 16 OCTOBER, SYDNEY
INDUSTRIAL AND LOGISTICS SUMMIT - TICKETS NOW ON SALE
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
HotelStaff WriterThu 10 Nov 16

Lantern Cashes Out Of Campbelltown With Over $21 Million Sale

Ambarvale-Hotel-Outlined-Aerial_620x380

The Ambarvale Hotel in south-western Sydney has been sold for $21.2 million in the latest sign of demand for pub investment opportunities.

CBRE Hotels’ Daniel Dragicevich and Sam Handy negotiated the sale on behalf of the ASX listed Lantern Hotels Group. In its announcement to the stock market, Lantern advised that the sale price represented a 50.2% premium on the 30 June 2016 book value.

The deal closely follows Lantern’s $25.3 million sale of the Uncle Bucks Hotel in Mount Druitt, which was also transacted by Mr Dragicevich and Mr Handy.

Mr Dragicevich said the two sales had been timed to capitalise on current market conditions and the unprecedented undersupply of quality freehold gaming hotels in Sydney.

“AAA gaming pubs are seldom offered to the market and, as a result, both properties attracted strong interest,” Mr Dragicevich said.

“Prior to these sales, just three genuine Top 200 gaming hotels had transacted over the course of 2016 and there is expected to be very limited availability of pubs in the gaming segment in the foreseeable future.”

The Ambarvale Hotel is strategically positioned on a 7,200 square metre with surplus land and a flexible zoning and benefits from a large catchment area, limited competition and an excellent gaming demographic.

The hotel is proximate to the Greater Macarthur Priority Growth Area, which is expected to deliver up to 33,000 new homes via a staged land release in the surrounding areas of Mount Gilead, Menangle and Appin.

CBRE’s Mr Handy said five sale contracts had been issued, highlighting the buoyancy at the top end of the Sydney hotel market.

“Robust trading conditions, debt liquidity and the current low interest rate environment is driving strong buyer demand, however there has been an undersupply of quality investment opportunities,” Mr Handy said.

“This led to keen interest in the Ambarvale Hotel, particularly from Sydney's top gaming portfolio publicans.”

The Ambarvale transaction follows a flurry of recent activity in the NSW hotel market, with CBRE Hotels having this year negotiated in excess of $250 million worth of NSW pub sales across 30 separate transactions.

HotelAustraliaReal EstateSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Global Shifts Redraw the Map for Australia’s Office Market
Exclusive

Office Eyes Slowdown as New Stock Supply Becomes a Trickle

Vanessa Croll
7 Min
Salta MD Sam Tarascio
Exclusive

Why Salta Won’t Break Ground on $400m Pipeline

Leon Della Bosca
7 Min
Exclusive

Precinct Proposals Bloom as Brisbane Middle-Ring Sheds its Past

Phil Bartsch
8 Min
Exclusive

Newest Land Lease Player Plots Sector Shake-Up

Taryn Paris
5 Min
View All >
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
Placemaking

Arup to Lead Brisbane Games Victoria Park Masterplan

Lindsay Saunders
Development

Finalists Announced for The Urban Developer’s Urban Leader Awards 2025​

David Di Marco
The shortlist for The Urban Developer’s Urban Leader Awards for this year have been announced—see the full list here…
LATEST
Korean coliving hero
Exclusive

Disconnection by Design: Why ‘Untech’ is the Next Big Amenity

Clare Burnett
5 Min
Placemaking

Arup to Lead Brisbane Games Victoria Park Masterplan

Lindsay Saunders
3 Min
Development

Finalists Announced for The Urban Developer’s Urban Leader Awards 2025​

David Di Marco
9 Min
Shayher 309 North Quay DA hero
Development

Twin-Tower ‘Gateway’ Revealed for Brisbane Renewal Precinct

Phil Bartsch
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/lantern-cashes-campbelltown-21-million-sale