Pubs to attract national interest
TWO Queensland pubs with a bit of history behind them should attract national interest when they're put on the market.
Owned by West Australian investors, the Oonoonba Hotel in Townsville, built in the 1960s, and the 100-year-old plus Commercial Hotel in Redbank west of Brisbane, are being sold by CBRE Hotels' Paul Fraser and Power Jeffery & Co's Peter Power and Andy Nason.
Mr Fraser said the opportunity would appeal to both investment funds and owner-occupiers, with the hotels being offered individually or as a portfolio.
"The hotels are currently operated by a management company, which will appeal to funds wanting to immediately reap the benefits of strong cash flow businesses offering high yields," he said.
"Alternately, owner operators could seek to acquire the assets with a view to actively managing the businesses moving forward."
The two-level Commercial Hotel is on a 2702sq m site and is 300m from the Redbank Train Station and Ipswich Motorway, connecting Brisbane to Ipswich.
The hotel comprises a sports bar with a separate TAB area, gaming room with 24 machines, indoor bistro and adjoining outdoor dining area, modern kitchen facility, walk-in bottle shop, four guest rooms and an administration office on the first floor.
Power Jeffery & Co's Mr Power said the Oonoonba Hotel is on a 3739sq m corner site and offers multiple revenue streams, including a main bar with TAB/Keno, lounge bar, gaming room with 28 machines.
"Outside of Brisbane, Townsville has more infrastructure projects currently underway than any other town in Queensland, including a waterfront redevelopment and a new $250 million sports stadium, which is underpinning interest in city investment opportunities," he said.