JLL Hotels & Hospitality Group is pleased to announce the sale of the leasehold interest in the Meadowbrook Hotel on behalf of the Syndicate led by Sydney-based Gallagher Hotels.

The Meadowbrook Hotel is located 35 minutes from both Brisbane and the Gold Coast and boasts a perfect catchment area with a mix of retail, commercial, medical, industrial and residential premises. The hotel is positioned adjacent the Woolworths-anchored Meadowbrook Shopping Centre and is proximate to Griffith University (Logan Campus) and the Logan City Hospital, which is currently undergoing a significant expansion and redevelopment. The wider area is experiencing some of the State’s highest population growth with projections surpassing state and national averages.

“Rarely are top 30 gaming hotels available within the SEQ market and the interest reflected the finite nature of the offering. We would like to congratulate the syndicate on their first and ultimately successful foray into the Queensland hotel market and look forward to seeing the incoming ownership group grow on the excellent platform that has been provided.” Commented exclusive agent Tom Gleeson, Senior Vice President.

The hotel benefits from an efficient design and layout which includes a gaming room with 40 electronic gaming machines (approved for 45), sports bar, bistro, beer garden as well as 20 motel accommodation rooms. The property also features a drive-through bottle shop and operates one detached bottle shop. The venue underwent a multi-million-dollar renovation over the past 18 months with profitability uplift evident across all departments. With a final lease expiry in 2056, the incoming tenant is provided a long-term cash flow asset in a well-known and well-regarded gaming corridor.

This transaction takes place during a time of increased transactional activity within the Queensland hospitality sector with further announcements pending from JLL Hotels & Hospitality Group to be released shortly.