A regional investor has purchased the Young Hotel, located at 89 Lynch Street, Young, demonstrating continued demand for regional investments.
The 1,559 m² * m² property was sold on behalf of Garry and Marie Cummins and resulted in a sale price reflecting a record yield for the area.
The split-level Young Hotel is a popular entertainment hub for the local community, supporting local charities and utilizing local merchants.
The town of Young is located on the Olympic Highway in south-central New South Wales and is about a two-hour drive from Canberra and a four-hour drive from Sydney.
The strengths of the assets include:
- Two poker machine rights;
- Generous outdoor garden;
- Reception room;
- Important land estate located on a site of 1,559 m² *; and
- Double frontage on Lynch Street and Marina Street.
The deal was negotiated by Nick Lower, Nick Butler and Selin Ince of Savills Australia.
“With more and more people relocating to the NSW area, the investor saw a great opportunity for The Young Hotel. Young’s capital gain increased to 11.53% in the last pandemic year, ”said Nick Lower.
To request a sales analysis, please contact Savills Australia sales agents Nick Lower, Nick Butler and Selin Ince via the contact details below.