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Robin Hood Hotel sells for nearly $50 million - about $30 million more than two years ago
February 28, 2023
By Peter Holmes
The Robin Hood Hotel - which sits on a prime block of more than 32,000 square metres - has been offloaded for nearly $50 million.
Sold through HTL Property in 2020 to the Marlow Group for around $19 million, the pub underwent extensive renovations before being put back on the market.
These included a new bistro and indoor kids playground, new beer gardens and additional car parking.
The current sale was again conducted by HTL Property.
Orange publicans Tim Ireson (Ophir Hotel) and Ben Cochrane (Parkview Hotel) are part of the group behind the purchase of the Robin Hood.
While other media has reported that the sale price was $51 million, a source close to the transaction said this was incorrect, and the price was in the high forty millions.
“Regional centres such as Orange benefited greatly through the pandemic years, and continue to draw the attention of astute capital investors, with the successful buyers being a syndicate of local operators and investors led by Tim Ireson and Ben Cochrane,” said HTL Property director Blake Edwards in a statement.
In the first eight weeks of 2023 about $515 million worth of pubs have been sold in Australia, HTL said.
Last year the Windsor Castle Hotel in Maitland was sold for a reported $51 million, pipping the Robin Hood Hotel.
The Orange News Examiner reported last year on a successful development application by the Robin Hood Hotel for works valued at $755,700.