Local group snaps up Scone duo
The sale enables Kelly & Co Hotels, who now exit Scone, to further sharpen their focus on larger projects and assets within the portfolio
JLL Hotels & Hospitality Group is thrilled to announce the sale of the Belmore Hotel, Scone NSW. The sale was conducted on behalf of Kelly & Co Hotels, who now exit Scone after the successful sale of the Royal Hotel (announced by JLL two weeks ago) to the same Hunter Valley Group.
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The Belmore Hotel is beautifully presented, with an impressive sandstone exterior and tasteful internal décor. The building includes original tin pressed ceilings, nine modernised accommodation rooms, and an inviting bistro with complimentary bar areas, as well as eight valuable gaming entitlements and a late trading 1 am hotel license, all of which are positioned on an impressive 1,555sqm site. The venue is positioned directly adjacent to supermarket giant Woolworths, allowing immediate patronage and ample off-street parking.
Complimenting the inherent features of the hotel, an approved DA was included in the offering which enables the construction of eight ensuite accommodation rooms to take the total room count to 16. Consent has also been granted for the construction of a kid’s playground, which helps provide the incoming operator with an array of choices to further enhance the hotel’s appeal.
JLL Vice President Greg Jeloudev, Executive Edward Browne, and McGraths Michael Burke were exclusively appointed to manage the campaign.
Mr Jeloudev said: “The sale of the Belmore Hotel now completes Kelly & Co’s strategic exit from Scone, with both hotels being acquired by the same purchaser.
“This unique opportunity enables substantial operational synergies all while enjoying a dominant market share. Both venues have approved DAs allowing an array of substantial value-add opportunities as well.”
Kelly & Co Hotels, led by popular publican Rodney ‘Ned’ Kelly, continue to execute their strategic consolidation mandate. The sale enables the group to further sharpen their focus on larger projects and assets within the portfolio.
JLL Hotels sincerely thanks Kelly & Co Hotels for entrusting the firm with this important mandate and congratulates the successful purchaser with their new acquisition.
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