Gunnedah's Parkview Hotel sold to an established Hunter based hotelier

The Parkview Hotel on the corner of Conadilly and Chandos Street has been sold to an established hotelier with interests in the Hunter region, for what the Leader understands is close to $6 million.

The prominent brick building on Gunnedah's main shopping strip includes a public bar, bistro, commercial kitchen, gaming room and 40 beds for accommodation.

Director of HTL Property Blake Edwards, said the purchaser was attracted to the potential for a passive rental income, the high street location and the underlying asset value of the land and poker machine holdings.

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"In addition, the positive economic sentiment in the region on the back of the $15bn Inland rail, the $3.6bn Pilliga Gas project and a booming agricultural sector also added considerable magnetism," Mr Edwards said.

The Hotel will continue to be operated by Greg and Belinda Thomas, who have run the Parkview since 2006, until mid-October.

The vendor for the hotel also holds investments in both regional and metropolitan hotel markets.

It's been a busy time for pub sales right across the region.

The Whitebull Hotel in Armidale went for a record price of $13.5 million last year, the Imperial Hotel in Inverell was sold for $5 million to hotelier Jim Knox, and The Royal Hotel in Armidale was sold for more than $5 million in July last year.

In February this year Harley Payne and his son Tom bought the Grand Hotel Armidale for an undisclosed amount

The sale of all five pubs in Moree also racked up $28 million.

*Editor's note: This story has been updated to reflect the position of the current management.

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