A regional investor has purchased the Young Hotel, located at 89 Lynch Street, Young – testimony to the continued demand for regional investments.
The 1,559 sq* m sqm property was sold on behalf of Garry and Marie Cummins and resulted in a sale price that reflected a record yield for the area.
The two-level Young Hotel is a popular entertainment hub for the local community, supporting local charities and using local tradesmen.
The town of Young is situated on the Olympic Highway in south-central NSW and is approximately two hours drive from Canberra and a four-hour drive from Sydney.
Asset highlights include:
• * Two poker machine entitlements;
• * Generous beer garden;
• * Function room;
• * Significant land holding sitting on 1,559sq m* site; and
• * Dual street frontage on both Lynch and Marina Street.
The deal was negotiated by Nick Lower, Nick Butler and Selin Ince of Savills Australia.
“With more people relocating to regional NSW, the investor saw a great opportunity for The Young Hotel. Young’s capital gain has risen to 11.53% over the past pandemic year,” said Nick Lower.