News

Historic Mackay region hotel goes on the market

FOR SALE: The Tandara Hotel Motel is one the market. It is one of the last two standing venues owned by the Queensland Town and Country Pub Club.
FOR SALE: The Tandara Hotel Motel is one the market. It is one of the last two standing venues owned by the Queensland Town and Country Pub Club. Contributed

SARINA's Tandara Hotel is one of two remaining pubs listed for sale after being divested by the Queensland Town and Country Pubs group this week.

The venue, which features 15 motel-style accommodation rooms, 31 electronic gaming machines, an on-site bottle shop and detached bottle shop, will be sold by agents from CBRE Brisbane, who said it would likely sell for a fraction of its worth at the peak of the market.

The property is the only remaining pub in the district left within the Town and Country Club portfolio, and a natural progression for the group, which have been divesting its assets over the past 12 months.

CBRE Queensland associate director Glenn Price said the property has already attracted plenty of early enquiries and would likely attract a broad range of investors including hoteliers from Queensland and interstate.

"For the vendor, the timing is right to exit these assets, providing an incoming operator considerable upside across the business plus an exciting exit opportunity as the regions begin to rebuild,” Mr Price said.

"It is no secret the area has been heavily hit by the cooling of the sector. This means the hotel is likely to sell for only a fraction of what it was worth at the peak of the market, giving purchasers a potential uplift in the future as the sector returns.”

According to CBRE Queensland director Paul Fraser, the sale represents an attractive investment opportunity for parties looking at either a joint or individual acquisition.

"The standout element of the Tandara Hotel has been its ability to achieve strong and consistent financial results amidst turbulent economic conditions,” Mr Fraser said.

"This is a very real and tangible differentiator that prospective operators will value.

"The owners are prepared to meet the market on price and are asking purchasers to attribute a value to the improvements on the land and opportunity costs.”

Tandara Hotel venue manager Brad Bettines said it was business as usual for the hotel's 30 staff, who hope the change won't affect their jobs.

"We're just poweing on doing what we do best,” Mr Bettines said.

"We've been trading reasonably well in all departments considering the current economic climate.

"As for staff and jobs, no one really knows, that will depend on what kind of owner or operator comes on board.”

The property is located on a 5100sqm corner site at Broad St and Central St. Offers will be taken until April 12.

Topics:  business cbre cbre brisbane cbre queensland gaming machines hotel sarina tandara hotel town and country pub club


Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Old craft not lost on youth

John Haywood, Ben Lederhose and Harry Corfield with their blacksmithing tools.

Blacksmithing not just for the oldies

The world needs to know what happened to MH370: Grieving CQ family

Rodney and Mary Burrows were lost when Malaysian Airlines Flight MH370 disappeared.

"It's not only for us and those families directly affected...': Mother's hope

Single-vehicle accident

News

Single-vehicle accident

Local Partners

CQ miner's bold walk out on job to chase greener pastures

Living in Biloela and making a crust as a nitrate process technician at a Moura mine, Parish knew it was now or never

Jemma's bewitching voice

STAGE PRESENCE: Suzie Mathers and Jemma Rix in a scene from Wicked The Musical.

Wicked musical theatre star Jemma Rix has released her debut album.

This laughter yoga video will have you in fits of giggles

BEST MEDICINE: Karen Flannery is spreading happiness through laughter throughout Hervey Bay.

New members needed for a laughing good time

Dancers show off skills at Toowoomba Eisteddfod

Milla Rowbotham and Rebecca Gill from All Star Dance Academy .Toowoomba Eisteddfod, Empire Theatre. August 2017

Poems and dances dominated the 72nd City of Toowoomba Eisteddfod

Hollywood’s new highest paid actress

JENNIFER Lawrence has been dethroned as Hollywood’s highest paying actress by another star. Can you guess who?

Movie trailer dubbed too racy for TV

Alicia Vikander stars in Tulip Fever.

THE trailer for Tulip Fever is so saucy some networks have banned it

Liz Hurley, 52, has never looked better

She’s definitely not shy to pose in a bikini.

Life in your 50s has never looked as good as it does on Liz Hurley.

Big Bang Theory star spills details about Season 11

Mayim Bialik plays Amy Farrah Fowler on The Big Bang Theory.

MAYIM Bialik has shared some details about what fans can expect.

The Bachelor Australia: Awful joke leaves Matty stunned

Sharlene’s mouth hangs agape after her car crash breakup.

I’m actually one of the bachelorettes — I’m not the external caterer

Samsung set for bigger, beach friendly Note 8

Samsung will be going bigger than ever to launch its Note 8 after this year's launch of the S8.

Water, dust, now sand-resistant?

GoT fan’s epic ‘Littlefinger’ theory

A fan has shared her epic theory on Littlefinger.

SPOILER ALERT: One fan has shared a shock theory.

EXPLAINED: What the 'Costco effect' means for Ipswich

PRICE WARS: A Costco store similar to this one in Canberra, is planned for Ipswich.

Exclusive 'cult' about to change how families do grocery shopping

4800 homes to be built in massive new Coast estate

Masterplanned community full steam ahead - it's not Caloundra South

Open for inspection homes August 17 - 23

Check out this weekend's homes open for inspection.

Airbnb, Stayz and co tipped to squeeze Coast housing market

HOLIDAY BOOM: Airbnb letting is putting a further squeeze on long-term rentals.

Councils exploring options to manage the industry

How we got a rental straight away on the Coast

Rita and David Allara, moved down from Townsville, paid three months up front rent to secure the place at flash new unit block in Kings Beach.

Genius move helps secure rental property

Ready to SELL your property?

Post Your Ad Here!