Mudgee's Lawson Park Hotel sold

Mudgee's Lawson Park Hotel has sold for $4.05 million.

CEO of the Lantern Hotel Group CEO John Osborne announced the sale which attracted 57 enquiries.

“The campaign was tailor made to attract both investors and operators.” Gerry Quinlan said that after a competitive tussle the Hotel was sold to an investor," John said.

The sale is part of the Group’s divestment of non-core hotels which to date has realised $43.0 million with an overall premium on book value of 14 percent.

Manenti Quinlan & Associated acted as agents for the sale.

The sale further consolidates the recent investment sales of the Racecourse Hotel, Wallsend and the Jemmy Moss Inn, Moss Vale.

Over the last three years the Lantern Group has developed the Lawson Park Hotel into one of the state’s leading regional hotels.

It is an award winning venue having captured the prestigious AHA Awards for the Best Casual Dining Country and Finalist Best Steak.

The value of the Lawson Park Hotel was underpinned by 15 gaming entitlements.