HTL Property announce the off-market sale of the Freehold Going Concern Interest in three large format Hotels in Southeast Queensland; all to leading national operator MA Redcape Hotel Fund (Redcape).

The transactions were exclusively managed by HTL Property agent’s Daniel Dragicevich, Glenn Price, and Managing Director Andrew Jolliffe.

The strategic purchase of the three assets includes The Lucky Tree Tavern (Durack), The Willow Hotel (Moorooka) and the Commercial Hotel (Redbank) and further highlights Redcape's well publicised expansion into South- East Queensland; where the company already enjoys a considerable stable of hotels assets.

The Commercial Hotel was sold alongside co-agent Tom Gleeson of JLL Hotel and Hospitality Group.

“The MA Redcape Hotel Fund is pleased to continue its deliberate focus on delivering consistent cash distributions and capital growth to investors. As such the fund continues to achieve this by strategically investing in, and actively managing, our portfolio of high-quality hotels.

We will look to continue to acquire assets with a particular emphasis on properties that offer significant potential for redevelopment and refurbishment in order to unlock value. This tactical management of our portfolio may also include the divestment of some assets as accretive market forces determine” commented Chris Unger, Managing Director of MA Redcape Hotel Fund.

The Willow Hotel and Lucky Tree Tavern were sold by publicans Peter Braithwaite and Brendan Lawless; while the Commercial Hotel in Brisbane's Redbank Plains was sold by industry veterans Patrick Ryan and Peter Filipovic.

“The sale of the Lucky Tree Tavern, The Willow Hotel and Commercial Tavern represents a watershed moment for the local market, but one which is well deserved given the scarcity of supply and the historically undervalued nature of high quality assets within the Southeast Qld region” commented HTL Property's National Director, Dan Dragicevich.

“The market has seen a shift in the thinking regarding successful buyers in FY25 across Queensland, with purchasers prepared to be more active regarding their search for assets so as to augment their respective portfolios; going beyond the traditional yield thresholds that have been determined over recent years" added HTL Property's Glenn Price.

“With Gaming Machine Authority values across Queensland at an all-time high, and both on and off premise trade continuing to grow year on year, the Queensland hotel sector has become even more desirable to key industry players across the nation; with large corporate groups, institutional investors and private syndicates driving the market" Price concluded.

"We congratulate Chris and his team from Redcape regarding the material acquisition of these strategic assets, and appreciate the continued trust placed in HTL Property to identify and deliver cross-border opportunities that intersect with desired investment metrics" advised HTL Property Managing Director, Andrew Jolliffe.

“As CY24 comes to a close, a flurry of December sales has reset benchmarks across most states in Australia and in respect of both capital and regional markets; and which consequently bodes well, providing a very positive outlook for the new year ahead" added Jolliffe.

"We enjoy relationships with multiple corporate groups and family offices harbouring significant capital deployment initiatives for CY25; and it is for this reason we are forecasting an increased volume of transactions for the next 12 months when compared to the most recent years” Jolliffe concluded.

Redcape will assume operational control of all three Queensland assets prior to Christmas.

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