The hotel is owner operated and is being sold with Vacant Possession, providing opportunities for an incoming owner to rebrand the hotel, or retain the Best Western brand under the existing license agreement.

CBRE Hotels agents’ Hayley Manvell and Paul Fraser will manage the Expressions of Interest campaign for the 3.5-star hotel, which has been in the same family ownership for over 20 years.

The hotel is situated on a substantial 1,907sqm inner city landholding and features 38 guest rooms, a café, restaurant and bar, meeting room, swimming pool and car parking.

CBRE Hotels’ Senior Negotiator Hayley Manvell said Queensland, and more specifically Brisbane, has been the most active hotel investment market in Australia, with investors making counter cyclical plays to capitalise on improving fundamentals.

Click here to view the listing on The Hotel Page with further information and EOI close date.

“The Brisbane hotel market is highly sought after and tightly held,” Ms Manvell said.

“With little to no stock currently available, we are expecting substantial interest in the Best Western Gregory Terrace, which will largely appeal to hotel owner operators, but also to land bankers and developers, given its substantial inner-city landholding, which offers future redevelopment potential with holding income.”

See also: Travelodge Rockhampton hotel sold to Chinese investor after a spate of regional Queensland hospitality sales

The hotel overlooks the Brisbane CBD and is located within direct proximity of key demand drivers, including the Royal Brisbane and Women's Hospital, QUT and UQ universities, Brisbane Grammar School, RNA Showgrounds and Convention Centre, Fortitude Valley and several commercial office towers.

CBRE’s Mr Fraser said; “While new hotel supply has entered the Brisbane market, most of the stock has been in the luxury category, which will bring a level of visitor demand that we have not seen before. Major investment in Brisbane’s infrastructure bodes well for the broader hotel market and we expect that the city’s hotel market performance will stabilise in 2019 ahead of a period of sustained growth.”

See also: Howard Smith Wharves "game changing for Brisbane"

This will be underpinned by approximately $30 billion in major Brisbane projects underway or proposed in Brisbane including the Queen’s Wharf Casino & Entertainment Precinct, a second airport runway, international mega cruise ship terminal, Brisbane Live Entertainment Centre, multiple commercial precincts as well as rail and road projects.

Click here to view the listing on The Hotel Page with further information and EOI close date.

This is a Feature Property.

See other hotels for sale in QLD:

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Brisbane Spring Hill 'International Hotel' development site for sale

See sold hotels in QLD:

ibis Styles Brisbane hotel sold to Worldwide Hotels in $100 million deal

Travelodge Rockhampton hotel sold to Chinese investor after a spate of regional Queensland hospitality sales

Portfolio of 87 Coles pubs sold to Australian Venue Co for $200m

See more Brisbane hotel news:

"Queensland hotel market having its time in sun" - iProsperity Hotel Research Report

Brisbane International visitors hit record high