CBRE Hotels’ Hayley Manvell and Wayne Bunz sold the hotel on behalf of the Tucker Box Hotel Trust.

At a glance:

• Sold for $6.5 million
• Yield of 8%.
• 4-star Rockhampton CBD
• 72 Rooms

CBRE Hotels’ Senior Negotiator Hayley Manvell told WILLIAMS MEDIA; “The asset attracted exceptionally strong interest, with multiple offers received in the first week of the campaign. A stock shortage is helping to draw buyer attention to Queensland opportunities as investors are priced out of southern markets.”

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CBRE Hotels’ Senior Negotiator Hayley Manvell

The 4-star Rockhampton CBD hotel features 74 rooms and extensive facilities, incorporating four conference and meeting rooms, two food and beverage venues, a swimming pool, gymnasium and ample parking.

The hotel will continue to be operated by TFE Hotels under the Travelodge brand.

In 2018, CBRE Hotels transacted a range of regional Queensland assets, including the QT Port Douglas, Rydges Gladstone, Cairns Queenslander and Airlie Beach Hotel.

“Investors are seeking to capitalise on the Sunshine State’s strong tourism fundamentals, and we can expect to see more transactions taking place along the Queensland coast throughout 2019,” Ms Manvell said.

CBRE Hotels is currently marketing the Don Pancho Resort in Bargara, with a shortlisting process underway.

See also:

Baillie Lodges expands with North Queensland hotel, Silky Oaks Lodge

Tourists flocking to Sunshine Coast according to new data

Signature Broadbeach Management Rights sold to ULTIQA Hotels & Resorts