OUR PLACES

Camden's Royal Hotel sold to hoteliers

The Royal Hotel has been sold. Picture: Supplied
The Royal Hotel has been sold. Picture: Supplied

One of Camden's iconic hotels has found new owners.

The Royal Hotel at 39 Argyle Street was sold through HTL, the same agency which sold fellow Argyle Street pub Camden Hotel earlier this year.

Hoteliers Ben Lawler and Ryan Haynes of Local Hospitality Group bought the venue, adding to their suite of pubs in regional NSW, including Bathurst (The Elephant and Castle Hotel), Dubbo (The Commercial Hotel) and Wagga Wagga (The Riverina Hotel).

The Royal was last sold in 2015, to a property developer who maid $5.5 million.

The current sale price, while undisclosed, is expected to be much higher, after the Camden Hotel sold for $11 million.

HTL's Blake Edwards, Sam Handy and Dan Dragicevich negotiated the off-market deal.

The Royal Hotel's now-former owner enlisted the agents following Camden Hotel's sale, and reportedly fielded multiple offers from several groups.

The Royal operates a 2am liquor licence and has 24 gaming machines.

It sits on a 1526sqm corner site at the entrance to Camden's main street and recently underwent extensive renovation and refurbishment.

Mr Edwards said the sale was a strong example of agents working closely with and intimately understanding individual buyers' investment criteria.

"The opportunity was keenly contested with the final price reflective of the current under supply of quality south-west Sydney freehold hotels," he said.

HTL also sold local venues in recent years like the Gregory Hills Hotel and Raby Tavern.

They've also got another Camden site on the market - the Stockyards of Camden.

Located on Edward Street, the planned mixed-use hospitality development would take inspiration from the Grounds of Alexandria.