Another Griffith Hotel Sale Brings Up $250m for HTL in the Riverina

HTL Property is pleased to announce the successful sale of the mixed-use Griff Hotel Motel, Development Site and Hotel Licence in Griffith.

The vendor, prominent hotelier Jim Knox, has now divested approximately $80 million worth of hotel and hospitality assets within the thriving regional centre through HTL Property. The Griff Hotel Motel transaction represents the strategic sell-down of a third major asset for Knox Corp in the Riverina region, effectively completing his divestment from Hospitality assets in the area.

The deal was successfully negotiated by HTL Property Director Xavier Plunkett and Managing Director Andrew Jolliffe.

“The asset comprised a complex, multi-faceted offering spanning retail, hospitality, accommodation and large-format commercial development,” commented HTL Property Director Xavier Plunkett. “The transaction was successfully negotiated via a targeted off-market process prior to any formal public marketing campaign, resulting in an optimal outcome for our vendor.”

The property occupies a prominent 4,377sqm site within the commercial core of the Griffith CBD. In its existing configuration, the asset provided approximately 2,389sqm of net lettable area, benefiting from substantial triple street frontage and multiple access and egress points via Yambil Street and Banna Lane.

Central to the offering was a DA-approved mixed-use hospitality and liquor redevelopment scheme incorporating a 1,135sqm large-format retail liquor outlet, a 387sqm hotel pub/restaurant, an additional 152sqm retail tenancy, and retention of the existing 12-room motel together with a well-appointed manager’s residence and approximately 50 on-grade car parks. The site further benefits from flexible Local Centre zoning, with no prescribed FSR or height limitations, significantly enhancing long-term development optionality.

The asset also included a full hotel licence with six Band 3 Poker Machine Entitlements, leased to a local operator.

Commenting on the transaction, Xavier Plunkett noted “Griffith exhibits some of the strongest hotel fundamentals of any regional centre in New South Wales, characterised by full employment, above-average household incomes, a substantial itinerant workforce, very strong hotel occupancy, and regulatory constraints limiting additional hotel licence and packaged liquor competition. The incoming purchaser will benefit from a large landholding and a structurally protected licence position.”

The Riverina region continues to demonstrate exceptional depth for A-grade regional hotel assets,” offered HTL Property Managing Director Andrew Jolliffe. “HTL Property has now facilitated in excess of $250 million in hospitality transactions across the region, including all five of the largest recorded Riverina pub sales, and the largest single Regional NSW Pub sale on record.”

The reported transactions include Gem Hotel, Griffith ($50 million), Area Hotel, Griffith ($30 million), Victoria Hotel, Wagga Wagga ($29 million), Northside Tavern, Lavington ($27 million), and the Thomas Blamey Tavern, Mount Albert ($25 million).

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