Newtown's Coopers Hotel sold off-market

Newtown's Coopers Hotel sold off-market
Newtown's Coopers Hotel sold off-market

HTL Property has announced the sale of the Coopers Hotel in Newtown following an off-market sales campaign.

The hotel on a 400 sqm block at 221 King Street last traded for $13.5 million in 2011.

For the 2018 financial year, the property had a $4.7 million turnover.

Turnover was balanced across food, beverage, gaming and wagering.

It has 21 electronic gaming machines and recently secured approval to expand the gaming room and midnight liquor licence with ‘early opener’ flexibility. 

It ranked #512 on OLGR Gaming Rankings list for the September 2018 quarter.

This sale represents HTL Property's fourth recent Inner City food and beverage transaction following the sale of the Salisbury Hotel, Bells Hotel and Bellevue Hotel.

Tags: 
Hotel Newtown

Comments

Be the first one to comment on this article
What would you like to say about this project?