Hotel Listing

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The Hotel Gracelands in Parkes, NSW has been listed for sale.
Located at 7-9 Bushman Street, Parkes is the Hotel Gracelands as well as IKON, a restaurant and wine bar.
<img src="https://www.urban.com.au/images/2018/10/4/Grace2.JPG" alt="">
They are currently under a 30 year lease until 2044 plus options until 2064 with annual rent increases to greater of CPI or 3%.
The hotel has 20 appointed rooms plus had DA approval which has since lapsed for 30 additional rooms.
They are reported as having "high level of repeat corporate clientele."
The net income for the property is $191,336 plus GST and the tenants pay all outogings.
In 2014 the property sold for $2 million.
The auction is set for October 23.
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Parkes' Hotel Gracelands for sale

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The recently relaunched Frisco hotel has been brought to market by Manenti Quinlan.
The Frisco, located at 46 Dowling Street, Woolloomooloo is to be sold via Private Treaty.
It is situated in the hospitality precinct of Woolloomooloo, close to the Sydney’s CBD.
Nick Butler from Manenti Quinlan stated, “the current owners have overseen an extensive renovation, relaunching with modern improvements while paying due respect to its naval heritage."
The Hotel, which has 17 gaming machines, is set on 323 sqm and earns around $3.5 million a year in revenue a year across food, bar and gaming.
Set over two levels, the Frisco’s bar, food and function offerings range from rivate dining options for 10 people expand to function packages for up to 350.
The Frisco also holds six accommodation rooms located on the third floor.
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Woolloomooloo's Frisco hotel on the market two years after makeover

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One of Perth’s popular live music venues, the Indian Ocean Hotel, is up for sale presenting an opportunity to acquire more than 4,000 sqm of beachside real estate. 
The sale will be through an offers to purchase campaign through CBRE Hotels’ Ryan McGinnity and David Kennedy under instruction from the receivers and managers appointed, HLB Mann Judd (Insolvency WA). The campaign closes in mid-May.
This is the first time the family-owned asset has been offered to the market in more than 30 years. 
The five-level, 59-room hotel includes Indi Bar and Bistro, which has hosted some of Perth’s best live music over the past two decades, including The Waifs, John Butler and Dave Hole. 
Located within the Metropolitan Redevelopment Authorities’ $57.4 million Scarborough Redevelopment Area, the Indian Ocean Hotel offers potential for future development, with a residential 160 zoning and additional special use as hotel. 
McGinnity said the property was expected to attract strong buyer interest.  
“The property is not only one of the most loved hotels and live music venues in the northern beachside suburbs, but it is also strategically situated on 4,200 sqm landholding in the soon to be revitalised Scarborough Redevelopment Area,” McGinnity said. 
“The multiple options which the site offers suggests the asset will be keenly sought after by onshore and offshore groups looking at hotel investment, or future residential or mixed use redevelopment.” 
The current zoning allows for an eight-storey development, with potential for 12 storeys, said a media release.
The Indian Ocean Hotel still enjoys strong occupancy and good levels of profit, he added
“Given the size of the property, the history of the venue and the recent changes to development height limits, the Indian Ocean Hotel site offers fantastic further development potential while retaining the existing hotel building,” Kennedy said, adding given the hotel is now 45 years old, it may soon be time to redevelop the site entirely. 
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Live music hub Indian Ocean Hotel in Perth up for sale 

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Melbourne businessman Max Twigg has listed one of Australia's most iconic pubs, the Byron Bay Beach hotel.
It comes with market expectations of between $75 million and $80 million.
Mr Twigg, who made his money in waste management, bought the hotel in mid-2007 from its developer, John Cornell.
Mr Twigg paid $44 million for the pub's land component in 2007 with the total business purchase price taking the outlay closer to $65 million.
Daniel Dragicevich of CBRE Hotels and Tony Bargwanna and Jared Hodge of Ray White Hotels have the 4585 sqm listing.
The hotel is leased to Melbourne pub industry identity John van Haandel until mid-2017 with a further two, 10-year lease options and currently brings in annual income of around $4.2 million. 
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Byron Bay Beach Hotel listed

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The Ray White Hotels Asia Pacific director Andrew Jolliffe has listed a Top 100 gaming property, The Tennyson Hotel at Mascot.
Set on Botany Rd, the Tennyson Hotel is a popular hotel with 30 gaming machines.
"Notwithstanding the latest ranking at 87 in NSW, the hotel requires an upgrade," Jolliffe advised.
The leading hotel architect Paul Kelly has designed a renovation which has DA approval.
"Only a very small number of Top 100 gaming hotels have changed hands over the past few years," commented Jolliffe.
"The reality is that this should be a Top 50 Gaming hotel," he added.
<img src="/images/2016/11/03/Aerial%20Hero%20Image.jpg" alt="">
The two-level large format hotel has a Sidney Warden-designed Inter-War Functionalist structure on the busy Botany Road and High St corner.
Its allotment is 1400sqm.
Jolliffe's client, JDA Hotels recently contemplated an unsolicited offer, advised John Feros of JDA Hotels.
The hotel, even in its currently unrenovated state, attracts in excess of $8m in annual receipts from predominantly high gross profit margin revenue centres.
<img src="/images/2016/11/03/Hero%202.jpg" alt="">
It goes to Ray White on December 1.
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Tennyson Hotel at Mascot listed by Feros family

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Fitzroy Island Resort off Cairns in Far North Queensland has been listed for sale amid surging growth in the region’s tourism sector.
Resort Brokers Australia will launch a six-week international campaign to sell the Fitzroy Island Resort tourism business.
The resort, the only one on the 339-hectare National Park island, is owned and operated by a Darwin-based property development and management group headed by Doug Gamble.
The family company, whose interests also include Darwin’s Crocosaurus Cove attraction, bought the property in 2010 as a partially built upscale resort fallen victim to the GFC.
Since then, they have painstakingly developed the resort, which covers 4.312 hectares with a 440-metre beach frontage to Welcome Bay on Fitzroy Island, 30 kilometres south-east of Cairns, within the Great Barrier Reef Marine Park.
Offered now for the first time since opening in 2011, it includes a 102-room 4.5-star resort hotel, multiple food and beverage outlets, conference and wedding venues, leisure facilities, dive shop, general store and mooring facilities.
Also part of the sale is a 190-seat high-speed catamaran ferry service, the ‘Fitzroy Flyer’, operating three services daily (45 minutes to the island) and packaged day tours from Cairns.
Resort Brokers Australia managing director, Ian Crooks, national sales manager Trudy Crooks, and FNQ senior broker Shane Mullins have been appointed with offers due Thursday, October 27.
“This is a rare and valuable tourism asset in one of the most desirable destinations on the planet, so we can expect substantial interest from both local and international buyers including large hotel operators and investors,” Ms Crooks said.
“Not only is this near new property already generating a steady and growing income, projected to exceed $2.7 million in FY17, it comes with outstanding growth opportunities and genuine barriers to entry from outside competition.”
Fitzroy Island Resort is selling with development approvals and plans for future stages, including up to 75 more rooms, and extensive infrastructure including a water supply spring, dam and pipeline on title, sewerage treatment and power plants, and staff accommodation.
Figures from Tourism Tropical North Qld (TTNQ) point to recent record growth for the region.
Domestic visitors grew 33.5 per cent to 2.2 million with a 35 per cent rise in expenditure to $2.4 billion for the year ended March 2016.  Domestic visitor nights rose 19% to 10.5 million.
International visitor expenditure was $1.1 billion, an increase of 13 per cent, and total international visitor numbers grew 11 per cent to 830,000.
Fitzroy Island Resort enters the market on the back of heightened investment interest in the Great Barrier Reef, hot on the heels of the recent sale of the South Molle Island resort in the Whitsundays to Shanghai-based China Capital Investment.
CCIG had earlier bought the nearby Daydream Island resort, where it is undertaking a major redevelopment, while another major Chinese company, White Horse Group, bought Lindeman Island in late 2012.
“We’re seeing a new wave of investor interest including the redevelopment of Hayman, planned expansion of Hamilton, and redevelopments on Daydream, Lindeman and Brampton islands,” Ms Crooks said.
“But while that activity is happening in central Queensland, Fitzroy Island Resort is the only island opportunity in Queensland’s tropical north, with proximity and easy access to the major international gateway of Cairns Airport.”
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Fitzroy Island for sale

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A Brisbane pub asset that figures in the top 10 gaming hotels in Queensland is up for sale for an expected $30 million.
The hotel has hit the market amid a backdrop of high-profile hotel transactions in 2016, with the most recent being the Colombian Hotel in Sydney for about $20 million.
Ray White’s Andrew Jolliffe and CBRE's Glenn Price have been appointed to sell the large-format Acacia Ridge Hotel in Brisbane's South West Corridor. 
Joliffe has been instrumental in other prominent hotel deals in NSW such as Parramatta's $60 million Albion Hotel and The Colombian Hotel. 
According to him, market thirst for A grade freehold property such as the 18,450 sqm Acacia Ridge Tavern site remains unquenched. 
"We've seen the depth of the market tested several times this year in gateway cities across the Australian East Coast, and the almost invariable result has been that high quality assets which enjoy a confluence of both scale and opportunity remain compelling and commensurately sought after by well-informed capital,” said Jolliffe. 
Located at <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-acacia+ridge-501070147" target="_blank">386 Beaudesert Road</a> in the blue collar industrial precinct of Acacia Ridge, The Acacia Ridge Hotel has benefited from the expansion of surrounding residential suburbs including Sunny Bank, Sunny Bank Hills and the $600 million Cornerstone Living master plan development at Cooper Plains. 
<img src="/images/2016/10/04/Acacia3.jpg" alt="">
Sitting next to the hotel is the Acacia Ridge Intermodal Freight Terminal, which services rail and road freight from the broader Queensland logistics network.
CBRE's Price added that the major land size upon which the hotel is located would also provide an investor with ancillary mixed use, or wholesale alternative opportunities. 
The Acacia Ridge Hotel is regarded as one of the most sought after hotel properties in Queensland, and recently underwent a renovation. It has figured consistently in the state’s top 10 gaming hotels ranked by profit. 
It has 45 gaming machines, a large format drive-through bottle shop, bars and conference facilities as well as a 34-room accommodation centre.
The hotel will be sold through an expressions of interest process ending late October. It is expected to draw wide investor interest.
The Commonwealth Games in 2018 are an added boost, said Joliffe.
“We are bringing to the market a prime 18,740 sqm commercial property holding, set upon a major arterial road and which has historically generated significant annual profit.”
The hotel was bought by Sydney investors Peter Calligeros and Stephen Farley for $16 million in 2014, according to the Australian Financial Review.
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Brisbane’s Acacia Ridge Hotel hits the market with $30 million expectations

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The Peppers Airlie Beach resort in North Queensland is on the market through an expressions of interest closing Thursday 20 October with price estimations between $15 million and $17 million, according to reports.
The resort, 9A Hermitage Drive Airlie Beach offering includes 56 self-contained freehold strata titled 1, 2 &amp; 3 bedroom apartments and 3 x 4 &amp; 5 bedroom villas with ocean views.
The receivership sale will be handled by CBRE Hotels and PRD Nationwide Airlie Beach on behalf of McGrathNicol.
Features of the property include Management Letting rights business for up to 106 apartments in the complex, resort facilities such as infinity swimming pool, gymnasium and Endota Spa.
CBRE agent Wayne Bunz said there was already significant interest in the area, pointing to the recent sale of Club Croc, Daydream Island and South Molle Island. 
"We have been inundated with enquiries for leisure assets of late, particularly from mainland China," he said. 
"Investors are looking to enter key leisure markets and capitalise on their potential for future growth, particularly in light of the softening Australian dollar, which is creating favourable market conditions for the local tourism market."
The $80 million resort was developed in 2009 by Josh Thompson's Latitude Development Group, which was placed in the hands of receivers McGrathNicol in March, according to the Australian Financial Review.
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Receivers' sale for Peppers Airlie Beach Resort, QLD

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Shippies, the 1840s Hobart hotel premises are currently for sale at Battery Point.
<img src="/images/2016/10/05/600_ships.jpg" alt="">
The property at <a href="https://www.realcommercial.com.au/property-hotel+leisure-tas-battery+point-502127254">29 Trumpeter Street</a> is a Hobart institution.
<img src="/images/2016/10/05/Screen%20Shot%202016-10-05%20at%201.03.50%20PM.png" alt="">
The Shipwrights Arms Hotel is tenanted for four years from 2015 with a four year option.
It has a land area of 1,460 sqm fronting three streets and is part of Hobart's history in the prestigious Battery Point area.
<img src="/images/2016/10/05/Screen%20Shot%202016-10-05%20at%201.04.46%20PM.png" alt="">
Its net rent is around $234,000 p.a.
It is offered through Knight Frank agent Ian Reed with expressions of interest closing on November 3.
<img src="/images/2016/10/03/29%20Trumpeter%20Street.jpg" alt="">
The property last sold in 2006 at $2 million. It previously sold in 1992 at $772,000.
Construction is brick with suspended timber floors and galvanised iron roof. Ceilings are plasterboard and lathe and plaster; windows are timber and aluminium. A single lift and stair well provide access to the upper level with a fire escape at the rear.
The property has two bars, commercial kitchen, extensive dining area, nine accommodation rooms and recently refurbished manager’s residence. The property also has a sealed car park with 20 spaces. 
<img src="/images/2016/10/05/Screen%20Shot%202016-10-05%20at%201.06.11%20PM.png" alt="">
The hotel's reputation is as an authentic maritime village pub, the closest thing to an old English Corner Pub.
It marketed itself as "No Pokies, No TAB, No Tofu, No Keno, No Live Music, No Bok Choy."
<a href="https://www.realcommercial.com.au/property-retail-tas-battery+point-502119426" target="_blank">The local post office</a> is also for sale.
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Shippies, Battery Point hotel premises for sale

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A fringe Byron Bay residential development site which has 60 metres of beachfront reserve access has been listed for sale.
It’s the 22-room Wollongbar Motel, which is run by a private operator, along with a house next door on the road out of Byron near the abandoned railway line.
The listing agent Blake Goddard from JLL Brisbane said the site was already receiving buyer inquiry from Sydney and Brisbane developers.
Matthew Hogg said he was selling to focus on other investments in Melbourne.
The site is tipped to fetch more than $10 million.
The 4542-square-metre site at 17-21 Shirley Street has a development approval for 17 luxury apartments.
The site is for sale by expressions of interest closing March 23.
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