JLL Hotels & Hospitality Group is thrilled to announce the sale of Hotel Bargo, in Bargo NSW. Positioned in the high growth corridor of the Wollondilly Shire Council, the hotel is destined to benefit from impressive population growth and infrastructure spend. The hotel business was sold on behalf of industry doyen Lloyd Segerstrom, who after 30+ years behind the bar is moving onto new business interests.
The venue was sold via a competitive 4-week expressions of interest process where interest was garnered from local operators, new market entrants and experienced hoteliers alike. The successful purchaser, Andrew Ingram, takes the reigns of an impressive hotel with plans to modernise the offering with incremental changes to suit the community.
Positioned on an enviable 2,612sqm block, Hotel Bargo enjoys an immediate catchment area comprising of 4,300+ residents and is directly positioned opposite Bargo train station. The Hotel boasts impressive trading fundamentals, including 26 electronic gaming machines, 10 accommodation rooms, an open plan bistro area, functional public bar and modern commercial kitchen. The sale consisted of a 14+ year lease (inclusive of options) providing ample time for Mr Ingram to drive overall business revenue.
JLL Vice President Greg Jeloudev, and Executive Vice President Ben McDonald were exclusively appointed to manage the campaign, with Mr Jeloudev noting, “Leasehold hotels with such scale and accessibility to Sydney are indeed few and far between, particularly those with a GME count of 25+. Hotel Bargo has all the demographic ingredients to continue to flourish as a hotel business, and we congratulate both vendor and purchaser on a result commensurate to this enviable hotel.”
The township of Bargo is located a short 100km south-west of Sydney and comprises of mix of residential housing and rural property. The town is quickly becoming an attractive alternative to larger metropolitan cities due to its position and value proposition.
JLL Hotels sincerely thanks Mr Segerstrom for entrusting the firm with this important mandate and congratulate Mr Ingram on his new acquisition.
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