'The Wickham' Hotel Brisbane Fortitude Valley sold off market for $14m
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'The Wickham' Hotel Brisbane Fortitude Valley sold off market for $14m
The freehold interest of The Wickham Hotel in Brisbane's Fortitude Valley has sold for $14 million to a private Sydney investor, representing a yield of 5.62%, a record for a freehold pub asset within Queensland over the past 10 years - brokered by Tom Gleeson of JLL's Hotels and Hospitality Group, and Seb Turnbull of JLL Capital Markets.
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Image supplied by JLL's Hotels and Hospitality Group'The Wickham' Hotel Brisbane Fortitude Valley sold off market for $14m
The transaction of the Coles tenanted tavern was managed by Tom Gleeson of JLL's Hotels and Hospitality Group, and Seb Turnbull of JLL Capital Markets via a discreet off market process.
The asset was sold for $14 million, representing a yield of 5.62%, a record for a freehold pub asset within Queensland over the past 10 years.
The sale was on behalf of Hotel Property Investments (HPI) who manage in excess of 40 venues within Queensland and South Australia, with the majority being tenanted by Cole’s liquor arm.
Tom Gleeson told The Hotel Conversation, “Combining the fundamentals of the strong covenant with the fact these taverns are often well located and positioned on substantial land holdings ensures assets of this nature are in high demand nationally.”
Mr Gleeson added, "This was a case of matching a specific buyers mandate to successfully complete the transaction discreetly and off market.”
To discuss the sale in further detail phone or email Tom Gleeson via the below contact details.
See also:
‘The Strand’ Beachfront Hotel Yeppoon for Sale
Damian Griffiths' Limes Hotel sold in Brisbane's Fortitude Valley
