Thursday, December 8, 2022

Publican waltzes into Jolly Swagman hotel

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The Jolly Swagman Hotel Motel on the NSW and Queensland border is the latest regional venue to change hands.

Jolly Swagman
Photo courtesy Australian Property Journal

Affectionately known as ‘The Jolly’, the venue has been operated for over 20 years by local Jim Brown, who cited the buoyed market as the catalyst to sell the asset. More than $2 billion of hotels changed hands in 2021, and the market momentum has carried over into the new year.

JLL Hotels & Hospitality managed the off-market private treaty sale of the freehold going concern interest in the Jolly Swagman Hotel Motel in Mungindi.

The hotel occupies a 2,023 sqm corner site 250 meters from the state border. The only pub in town enjoys strong local patronage and attracts $30,000 each week, underpinned by four gaming machine entitlements and a 1.30am licence. It also includes six motel-style accommodation rooms.

The new owners are experienced private publicans who have an existing regional hotel portfolio.

“Regional hotels continue to appeal to investors due to greater returns and the ability to diversify portfolio structures,” JLL’s Greg Jeloudev said

“Venues with gaming machine entitlements, accommodation rooms and strong takeaway sales continue to be highly sought.”

About 100 hotels changes hands in NSW alone, according to HTL. Recent regional hotel sales have included a consortium including pub baron Arthur Laundy buying the Thomas Blamey Tavern in Wagga Wagga for $27 million, and Armidale’s Grand Hotel being snapped up within the first week of the sales campaign.

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