A favourite pub with tourists and locals has been sold in Central West Queensland by leading agency Savills, reflecting the continued pursuit for pub assets in the regional market.

The assets were sold to a pre-approved private buyer, with solid interest received in an off market Offers to Purchase process.

Situated in the heart of Longreach, the Longreach Tavern is positioned on a 1,214 sq m* site and fronts the town’s main strip, Eagle Street.

Included with the sale of the tavern were the Longreach Private Apartments located at 96-98 Crane Street, a short distance from the Longreach Tavern.

Leon Alaban, National Director – Savills Hotels said, “The sale of the Longreach Tavern typifies the bullish sentiment towards well-presented and high-yielding pubs and taverns throughout regional Queensland, the first quarter of 2023 has remained consistent with the robust finish of 2022.”

Longreach is a well-known tourist destination and is considered a major centre in outback Queensland, located 690 km* west of Rockhampton and 1,175 km* northwest of Brisbane.

Traditionally, pastoral activities, tourism and rural education have been the main areas of focus within the region.

The region is known for its cattle grazing and sheep farming, with wool production being significant contributor to the local economy. Tourism is also a significant contributor to the Longreach Economy.

Longreach is known for its rich heritage and history and is home to the iconic Australian Stockman’s Hall of Fame. First opened in 1988 by Queen Elizabeth II, the structure has since welcomed more than a million visitors.

The town also holds the award-winning Qantas Founders Museum.

The Longreach Tavern’s facilities comprise of a Public Bar, Beer Garden, Bistro & Lounge Bar, Gaming Room (14 EGMs, with the approval for 19 EGMs), Manager’s Residence, and Drive-Through Bottleshop.

“Following numerous sales of regional pubs with similar characteristics, we look forward to presenting further properties to buyers seeking assets in the sector this year,” concluded Mr Alaban.