Albury’s Brady’s Railway Hotel joins run of NSW pub sales
A busy pub and venue on the NSW border has been bought for $9.6 million.
Brady’s Railway Hotel in Albury was picked up by Sydney-based pub fund Harvest Hotels, whose portfolio includes the newly refurbished Courthouse Hotel in Tamworth.
Founded by Chris Cornforth and Fraser Haughton, the fund’s focus is on hotels in regional NSW.
Brady’s Railway Hotel was previously owned by the Attwood family, who are retiring from the hotel industry after a long career in the business.
JLL Hotels’ Ben McDonald, who facilitated the sale on behalf of Harvest Hotels, says the pub market has remained strong despite the current economic climate.
“Brady’s Railway Hotel is a large format regional asset that represents a unique trading proposition in one of regional NSW’s strongest performing locations – Albury,” McDonald says.
“The acquisition further highlights the ongoing confidence in the pub market despite fluctuating economic conditions and underscores the demand for operating real estate assets in key growth markets.”
This sale is the latest in a series of sales through JLL Hotels, with transactions in the NSW hotel market exceeding $175 million.