59 Russell StreetTumut NSW 2720
Property Details for 59 Russell St, Tumut
Last Listing description (October 2023)
JLL Hotels & Hospitality Group is thrilled to offer for sale the freehold going concern interest in the Tumut Star Hotel, strategically located in the heart of Tumut.
The hotel presents solid offerings across food, beverage, and accommodation departments, showcasing a premium level of quality which establishes the Tumut Star as a lucrative investment opportunity for those seeking a resilient and profitable hotel asset.
Investment attributes are summarised as follows:
- Exceptionally modernised venue with outstanding bar, bistro and dining areas
- Total weekly sales averaging $26,000 + GST across, F&B and accommodation
- Enviable late trading 3am Liquor Licence
- Favourable B2 Local centre zoning with scope for additional infrastructure development
- Expansive 2,638sqm site with large on-site carpark
- 8 first floor accommodation pub rooms plus manager's residence with refurbishment potential
- Newly installed children's play equipment and breakout area
The Tumut Star Hotel is being offered for sale via Expressions of Interest closing 2nd May 2023 at 2pm unless sold prior.
Property History for 59 Russell St, Tumut, NSW 2720
- 13 Nov 2023Sold for $700,000
- 26 Apr 2023Listed for Sale Contact Agent
- 01 Nov 2021Sold for $540,000
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0About Tumut 2720
The size of Tumut is approximately 30.2 square kilometres. It has 22 parks covering nearly 12.5% of total area. The population of Tumut in 2011 was 6,239 people. By 2016 the population was 6,210 showing a population decline of 0.5% in the area during that time. The predominant age group in Tumut is 50-59 years. Households in Tumut are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Tumut work in a trades occupation. In 2011, 64.5% of the homes in Tumut were owner-occupied compared with 66.3% in 2016.
Tumut has 3,701 properties. Over the last 5 years, Houses in Tumut have seen a 84.38% increase in median value, while Units have seen a 50.03% increase. As at 30 September 2024:
- The median value for Houses in Tumut is $417,958 while the median value for Units is $321,113.
- Houses have a median rent of $420 while Units have a median rent of $283.
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