Brisbane's Fortitude Valley hotel on the market
Brisbane's GPO Hotel Fortitude Valley, a popular icon in the Fortitude Valley nightlife scene, is up for sale.
CBRE Hotels has launched an expressions of interest campaign for the hotel on behalf of the Lantern Hotel Group. The EOI campaign closes March 31.
The hotel, sporting Victorian Italianate style architecture, is located at 740 Ann Street on a 956sqm corner site.
The freehold building earns $329,052 per annum, with fixed 3.5% annual increases. It is leased until 2019 with four 10-year options.
The zoning is flexible for future uses as retail, residential or office. There is potential for increased density subject to council approvals.
The listing agents are Glenn Price, Daniel Dragicevich and Darren Collins of CBRE.
