Following the sale this week to Hotel Property Investments of Brisbane’s Acacia Ridge Hotel freehold for $20m, HTL Property has now announced the sale of the Shearer’s Arms Hotel in the Brisbane suburb of Ormeau. 

HTL Property agents for the sale, Glenn Price, Brent McCarthy and Andrew Jolliffe ran a prosperous off market process on behalf of the firm’s South Australian based clients, the Cornish and Murphy families. 

The well-known hotel has been successfully acquired by highly regarded Qld Hotelier of the Year, Matt Coorey who, with existing interests in the award winning Boardwalk Tavern on Hope Island, has acquired the Shearer’s Arm’s Hotel in a joint venture with the active Royal Hotels Group based in Sydney. 

"Having run the ruler across countless opportunities over the past few years, I'm delighted to now have the opportunity to pick up the reins on the Shearer's, particularly given its close proximity to my other hotel property the Boardwalk Tavern" said Mr Coorey. 

"My style is very hands on and I expect the hotel and surrounding community will respond well to an owner/operator model." 

HTL Property Director, Glenn Price said along with Ron Currey, they were able to garner interest from all the significant Qld hotel operating groups, as well as those national investment footprints and leading hospitality based vehicles based in both NSW and Victoria. 

“The scarcity of available A-grade product meant the interest in the opportunity was so high we could have sold the asset five times over,” said Mr Price. 

With the Shearer’s Arms, Acacia Ridge and Elephant & Wheelbarrow hotels all selling to primarily interstate interests in recent months, HTL Property believes its national database of active investors retain an unsatisfied thirst for Qld hotel investments. 

“The patent transactional activity on, not only a Queensland, but also a national market basis, is a positive response to the combined quality of property and heavily restricted licence backed offering this asset class provides ownership participation,” said HTL Property Director, Brent McCarthy. 

“With such a significant commercial property land holding being underwritten by deep historical revenue generation, 40 very valuable gaming permits and material barriers to entry from those who would seek to steal market share, it is little wonder alternative asset class investors are making the hurried shift across to opportunities such as the Shearer’s Arms Hotel and others.” 

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