Aspley Hotel sold circa $10.5m by Savills
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Aspley Hotel sold circa $10.5m by Savills
Redcape Hotels's Iconic Aspley Hotel Brisbane sold in an off-market transaction at a price believed to be circa $10.5m. It is understood Savills, Tony Bargwanna also introduced a party which led to a transaction together with HTL's Andrew Jolliffe and JLL's Tom Gleeson for The Grove Hotel on behalf of Redcape Hotel Group.
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Aspley Hotel sold circa $10.5m by Savills -
The Shamrock for sale by EOI closing 13 September, 2023 (unless sold prior) managed exclusively by HTL Property and JLL Hotels and Hospitality Group. -
The Grove Hotel was circa $17.5m negotiated by Tony Bargwanna of Savills Hotels.
Redcape Hotel Group recently exclusively listed two of its North Queensland hotels sale,The Grove and The Shamrock Hotel’s in Mackay North Queensland, with HTL Property and JLL.
Within approximately one week of listing, the sale of the first of two hotels was announced, The Grove has been sold to an undisclosed buyer at an undisclosed sale price.
Industry sources suggest the sale price of The Grove Hotel (above image) was circa $17.5m negotiated by Tony Bargwanna, Leon Alaban and Nick Lower of Savills Hotels.
The sale process of the Shamrock Hotel, remains via an Expression of Interest campaign, exclusively managed by HTL Property and JLL Hotels and Hospitality Group, and concludes 13 September, 2023 (unless sold prior).
The two hotel listings were reported on the 18th August 2023 in The Hotel Conversation, “Redcape pubs Mackay for sale through HTL and JLL”.
The Hotel Conversation article on 18 August 2023 reported, “The two Mackay hotels being offer for sale by Redcape are, The Shamrock Hotel and The Grove Hotel; both representing very large land holdings and enjoying multiple revenue streams in established areas of the burgeoning Queensland regional centre.
Redcape Managing Director, Chris Unger, indicated at the time, the likely sale of assets in a recent note to Fund investors; taking advantage of an asset class which enjoys the support of key operational and lending stakeholders, as evidenced by recent sales upon the national landscape.
“As we have demonstrated in the past, a key strength of the Redcape Group is the ability to leverage the depth and quality of the portfolio to selectively recycle capital through successful divestments. Fuelled by an amazing team of people, both The Grove and Shamrock have performed strongly for us over many years providing all-encompassing hospitality experiences for their communities,” said Unger said at the time of listing.
With two of the three Redcape Hotels sold for a combined $28m approx, The Grove sold $17.5m and The Aspley Hotel sold $10.5m, both sold off market by Tony Bargwanna, Leon Alaban and Nick Lower of Savills, the 3rd hotel, The Shamrock is currently for sale by EOI closing 13 September, 2023 (unless sold prior) managed exclusively by Andrew Jolliffe of HTL Property and Tom Gleeson of JLL Hotels and Hospitality Group.
For further information on The Shamrock Hotel click here (image above) or contact the HTL Property and JLL Hotels and Hospitality Group agents via the below contact details.
Savills Hotels declined to comment on the 2 sales and the identity of the buyers.
Related Reading:
Click here to view more articles of Australian Pubs and Taverns recently listed for sale and sold
Redcape pubs Mackay for sale through HTL and JLL
The Shafston Hotel and Aspley Hotel Sold to Redcape Hotel Group $27.5 m JLL (9 December 2020)
