Freehold Going Concern interest in the Mansfield Tavern for sale by HTL Property

Contact

form.antibot { display: none !important; } You must have JavaScript enabled to use this form.

Oct 25, 2022

Freehold Going Concern interest in the Mansfield Tavern for sale by HTL Property

The Mansfield Hotel for sale and additional developable land holding is being sold by HTL Property Directors Glenn Price, Brent McCarthy and company CEO Andrew Jolliffe.

Mansfield Tavern for sale by HTL Property

HTL Property has today confirmed that they have been appointed to offer the Freehold Going Concern interest in the Mansfield Tavern for sale. This first time that the Mansfield Hotel has been offered for sale, with the potential for vacant possession, in more than 25 years.

The massive 20,830sqm* site, located just 11km’s* south-east of the Brisbane CBD and a short 20 minute* drive from the Brisbane Airport, is expected to pique the interest of multiple buyer profiles including investors, developers and operational hoteliers from Qld and interstate.

The Mansfield Tavern, including the currently branded First Choice Liquor outlet, have been operated by Coles since 1997; and more recently by the joint venture of Coles and AVC since their merger in 2019.

Due to the expiration of the current lease, and which contains no further option periods available to the incumbent tenant, the interstate based Mansfield Tavern owner has made the decision to test the widely contested open market.

Enjoying capacity for over 1000 people, the hotel promotes a rich history as a live music venue, hosting internationally acclaimed acts in the 70's and 80's including The Offspring, Hunters and Collectors, Midnight Oil, Hoodoo Gurus, The Angels and The Cult. More recently, artists such as Gwen Stefanie's No Doubt, Spiderbait and Jebediah have all rocked out on the Mansfield Hotel stage to the Brisbane live music faithful.

In 2020, the site was approved for a 3-stage development known as the Wecker Road Markets.

Redevelopment that could see the venerable watering hole, which has quenched the thirst of Brisbane's southside for more than forty years, integrated in a new 2.1ha precinct.

"Having sold some of Australia's largest hotel offerings, including Brisbane's Acacia Ridge and Sydney's Gregory Hills, Newport Arms and Crossways Hotels, the genuine national scarcity of 20,000sqm hospitality offerings really does engender strong levels of interest" advised HTL Property Director, Glenn Price.

The project, designed by highly regarded architect Cottee Parker, is a three-stage project involving the creation of new shops, tavern, offices, food and drink outlets, health care services along with expanded pedestrian walkways, a modern building design and landscape architecture treatments.

The current hotel itself consists of a public bar, gaming room with 31 Gaming Machines, large entertainment space, detached function room/bistro and onsite parking for some 220+ vehicles*.

The Mansfield Hotel has been successfully run by the tenant, providing a successful purchaser with the ability to renegotiate a long- term lease; or approach other hotel operators of their preference.

"The flexibility offered by the combination of scale and the concluding lease arrangement, really does illustrate a rare opportunity to shape the post acquisition outcome of one of the state's more significant freehold hotel operations" concluded HTL Property Director, Brent McCarthy.

The Mansfield Hotel and additional developable land holding is being sold by industry specialists HTL Property - with Directors Glenn Price, Brent McCarthy and company CEO Andrew Jolliffe managing the sale process via a public Expression of Interest process due to conclude the 17 November 2022.

To request a copy of the Information Memorandum please contact one of the marketing agents HTL Property Directors Glenn Price, Brent McCarthy and company CEO Andrew Jolliffe via the contact details below.