The sale comes as competition heats up for a rapidly diminishing asset pool of available South-Coast freehold pubs.

HTL Property's Blake Edwards and Sam Handy have been appointed to manage the sale process after the owners fielded several unsolicited approaches to sell the hotel off-market.

The popular pub occupies a material 3,354 square metre landholding within the main commercial and retail precincts of St Georges Basin; just two streets back from the region's famed water playground and just a 10-minute drive from Jervis Bay.

The hotel is owned by Brisbane-based hotelier Michael Lucas and consequently runs under full management.

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Lucas and long-term business partner David Kennewell originally acquired the freehold of the hotel; however, have remotely operated the business since 2019.

Upon obtaining the business, the owners immediately executed a strategic renovation, refurbishment and reconfiguration of the hotel, resulting in a vastly improved business and offering.

The business underwent a $1 million renovation. Following which has resulted several off-market approaches by local hoteliers who understand the size of the trading catchment the hotel services and are keen to secure one of the few remaining South Coast trading opportunities.

"The Cooee Hotel is an excellent business and we were pretty comfortable to enjoy the passive rent; however, following a set of circumstances we found ourselves needing to go back in and operate the pub," said owner Michael Lucas.

"At the time the hotel was in desperate need of some capital expenditure and community engagement, and we've been pretty successful in achieving this in a relatively short time frame."

The business has a very profitable revenue mix, features 14 gaming machines ranked number 526 for the March 21 quarter, which makes it one of the strongest performing coastal NSW gaming rooms in the state (on a per machine basis). The hotel is also one of NSW's best Keno outlets.

Further attracting buyers to the opportunity is the fact that it is the only hotel within a trade catchment of some 12,500 residents.

In addition, there are strong growth and demand drivers within the immediate precinct, including the Village Grove residential master planned community virtually across the road from the hotel.

Further reinforcing the growth story is the proposed Anson Street development, which is situated directly behind the hotel, and will see around 240 apartments built delivering an influx of approximately 800 residents.

"Having sold this asset previously, we anticipate a strong attraction from a range of buyers looking to secure a high-grade hotel asset such as this one represent," said HTL Property Director, Blake Edwards.

"The hard work and heavy lifting has been done, and there now exists a well performing and well put together business in place awaiting an incoming operator."

This Cooee Hotel sale campaign follows a raft of HTL Property's recent South-Coast freehold sales, including the Great Southern Hotel (Berry), North Nowra Tavern (Nowra), Shell Cove Tavern (Shell Cove), Central Hotel (Shellharbour), Figtree Hotel (Figtree) and the Unanderra Hotel (Unanderra).

The Cooee Hotel is being sold exclusively by HTL Property and via a national expression of interest campaign closing Wednesday, July 7 (if not sold prior).

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