CBRE agents Paul Fraser, Darren Collins and Tom O’Driscoll have been exclusively appointed to manage the sale of the city fringe pub located at 525 Boundary Street, Spring Hill on behalf of The International Pty Ltd, headed by Mark Jones and Scott Armstrong.

The high-profile hotel is located on a large 1,745sqm corner site fronting Boundary and Torrington Streets, just 2km from the Brisbane CBD.

“The opportunity will appeal to a broad buyer pool given the property’s development potential and diversity of the existing hotel offering” Mr Faser said.

Click here to view Paul Fraser's profile and contact details on The Hotel Page.

CBRE’s Tom O’Driscoll said the recent activation of the long-awaited Spring Hill Neighbourhood Plan will be a major draw card for developers particularly given the property’s significant street frontage.

“The property offers 34m of frontage to Boundary Street and 50m to Torrington Street, which will enable a buyer to capitalize on the site’s recent change of use/development. The Spring Hill Neighbourhood Plan will allow an investor a building height of at least 10 storey and a very flexible end use,” Mr Driscoll added.

“The combination of record low interest rates, Brisbane’s strong economic and population growth, with declining new apartment supply and approvals presents a perfect opportunity for developers acquire a prime site with huge upside in the apartment market. Alternatively, the site could be suited to residential, medical, aged-care, retail, hospitality, short-term accommodation and commercial developments – lending the site to a wide variety of potential schemes.”

The current hotel operation has strong inherent underlying value with 14 gaming authorities worth circa $2.4 million plus in the market today. It also features several bars, microbrewery, bistro, boardroom/conference facility, an on-site Cellarbrations liquor store and two detached liquor retail stores.

CBRE Hotels are taking Expressions of Interest on behalf of the motivated sellers until November 22, 2018 at 2pm (AEST).

Click here to view Paul Fraser's profile and contact details on The Hotel Page.

This is a Featured Property.