High-profile hotel noted for sale as financiers circle South East Queensland hospitality possessions
The freehold interest in Club hotel Waterford has actually been noted for sale in the middle of robust need for long-leased South East Queensland hospitality possessions.
The popular Brisbane hotel is being provided with the advantage of a long-lasting, double-net lease to Liquorland Pty Ltd.
CBRE’s Paul Fraser,Joe Tynanand Michael Hedger have actually been solely selected to guide the Expressions of Interest project for the Waterford property, that includes a big format pub with a primary bar, sports bar, dining location and a designated video gaming space with45 video gaming makers.
The pub is run by the KKR-owned Australian Venue Co.( AVC), among the country’s biggest hospitality operators,
The property likewise includes a big First Choice Liquor Market run by Coles Liquor along with sufficient automobile parking on a high direct exposure, 1.1 ha corner website.
” In the lead as much as the 2032 Brisbane Olympic Games and with unmatched facilities tasks in the pipeline, we are seeing record levels of query from financiers nationally wanting to acquire a grip in Brisbane’s hospitality market,” CBRE’s Mr Fraser stated.
” When it comes to Club hotel Waterford, the possession has around 9.5 years staying on its long-lasting lease with a more 3 10- year alternatives upon expiration, running till2063 The net lease likewise supplies a strong leasing of circa $1.43 million per year with the renter being accountable for 100% of the outgoings. The property manager is just accountable for structure works.”
Mr Tynan included, “This kind of safe and secure financial investment shares comparable attributes to a Bunnings property, offering a yearly set development earnings structure with a Coles subsidiary as the occupant covenant. Provided this design of residential or commercial property is rarely provided to the marketplace, we anticipate robust interest from a vast array of financiers.”
Club hotel Waterford lies around 28 km south-west of Brisbane on Loganlea Road in the city’s southern development passage.
It is placed straight opposite a Coles-anchored shopping center, which drives high traffic to the location, and is close to Logan TAFE and Logan Hospital.
Expressions of Interest close May 25, 2023 (unless offered prior).
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