Page 8 - Peninsula News - 22 August 2016
News
An aerial view of Patonga showcasing the village’s première ocean front location and tourist appeal
Patonga hotel is listed for sale From page 7 “Until the hotel is sold it is business as usual.” But staff and residents may not have long to wait according to Ray White’s Hotel Director Asia-Pacific and agent handling the sale of Patonga Beach Hotel, Mr Andrew Jolliffe. According to Mr Jolliffe, the hotel’s proven cash flow,
beachfront location and staggering tourist appeal make it one desirable purchase. “True beach, or oceanfront properties such as the Northies at Cronulla which we sold last year, are always highly regarded by astute investors from a range of investment classes and, accordingly, our expectation is that the Patonga Beach Hotel will similarly attract strong interest
from parties who recognise the unique nature of quality waterfront businesses,” Mr Jolliffe said. “It is anticipated that the high quality commercial real estate holding, with consistent and reliable annual revenue as well as the inherent value of the waterfront land holding, will attract strong interest from a broad range of hotel and property participants alike. “Like Bannisters at Mollymook,
or the award winning Halcyon House on Cabarita Beach in Northern NSW, the opportunity to secure and then enhance the food, beverage and accommodation offering at the Patonga Beach Hotel, so as to attract greater patronage from both the Central Coast and Sydney, is simply huge,” he said. The hotel is being marketed through an intense four-week
international Expression of Interest campaign concluding September 8. Interview, 16 Aug 2016 Stuart Beazley, Patonga Beach Hotel Media release, 12 Aug 2016 Interview, 16 Aug 2016 Andrew Jolliffe, Ray White Hotels Interview, 17 Aug 2016 Andrew Smith, Patonga Beach Hotel Reporter: Dilon Luke
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