Famished Investors sink teeth into freehold hotels and pubs says Savills
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Famished Investors sink teeth into freehold hotels and pubs says Savills
Investor appetite is in overdrive for quality freehold hotels and pubs with strong covenants across Queensland, spiking a slew of owners placing assets on the market to take advantage of this demand says Leon Alaban, National Director, Hotels Savills Australia,
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SavillsInvestor appetite is in overdrive for quality freehold hotels and pubs with strong covenants across Queensland, spiking a slew of owners placing assets on the market to take advantage of this demand says Leon Alaban, National Director, Hotels Savills Australia,
Investor appetite is in overdrive for quality freehold hotels and pubs with strong covenants across Queensland, spiking a slew of owners placing assets on the market to take advantage of this demand says Leon Alaban, National Director, Hotels Savills Australia,
According to Leon Alaban, National Director, Hotels, Savills Australia, owners are witnessing amazing results being achieved in the market, with many deeming it an appropriate time to sell.
In the past two months, there has been a flurry of recent freehold sales with four ALH leased pubs in QLD and one in VIC selling with yields ranging from 4.15 - 4.98%.
"These include the Noosa Reef Hotel in Noosa for $13.8m, the Pelican Water Tavern in Caloundra for $10.8m, the Kedron Park Hotel in Kedron Park for $4.6m, the Edinburgh Castle Hotel in Kedron for $7.5m and the Morwell Hotel in Morwell VIC for $3.06m.
"The ALH Group operates over 300 licensed venues and more than 550 retail liquor outlets across Australia. Their portfolio includes iconic hotels and neighbourhood pubs, each tailored to their local markets, making them a secure and impressive lessee” he said. And now The Imperial Hotel at 70 George Street, Beenleigh QLD is going to market and Mr Alaban, the exclusive sales agent, believes this freehold investment opportunity will see interest from local and interstate investors, and potentially developers as the land is permitted for a 12 storey development due to the commercial zoning under the City of Logan planning scheme.
“Located in the centre of town, the Imperial Hotel is situated on a 1,834 sqm* site with frontage and access provided from George Street and is on a triple net lease to ALH Group Property Holdings Pty Ltd (currently on an 11 year lease with a 5 x 10 year option).
“The current annual net rent is $323,000* plus GST and facilities comprise a Main Bar, Sports & Keno Bar, Gaming Room and BWS Drive Through Bottle Shop” he said.
Beenleigh is a suburb within the City of Logan which is located south of the Brisbane GPO. As at 2020, the population of Logan was 341,985. More specifically, as at 2016 Beenleigh had a population of 8,252 people.
The suburb is located 35 kilometres south of Brisbane via the Pacific Motorway and is now one of the city’s southernmost commuter belt suburbs.
The Imperial Hotel, located at 70 George Street, Beenleigh QLD 4207, is for sale through Savills Australia by way of an Offers to Purchase process.
