Owners of freehold hotels and pubs are taking advantage of high investor interest, with amazing results witnessed on the market.
Savills national director of hotels Leon Alaban said owners are deeming it an appropriate time to sell, with yields ranging from 4.15-4.98 per cent.
“The AHL Group operates over 300 licensed venues and more than 550 retail liquor outlets across Australia. Their portfolio includes iconic hotels and neighbourhood pubs, each tailored to their local markets,” he said.
The flurry of sales over the past two months includes four ALH leased pubs in Queensland, and one in Victoria:
- Noosa Reef Hotel, Noosa, QLD, $13.8 million
- Pelican Water Tavern, Caloundra, QLD, $10.8 million
- Kedron Park Hotel, Kedron Park, QLD, $4.6 million
- Edinburgh Castle Hotel, Kedron, QLD, $7.5 million
- Morwell Hotel, Morwell, VIC, $3.06 million
The news comes as landmark Hotel Tully becomes the latest of many freehold hotels and pubs to hit the market in the Cassowary Coast region of north Queensland.
Built in 1926, the hotel is centrally located within the town centre, situated at 5 Butler Street, Tully QLD.
It is surrounded by a flock of tourist attractions, including the Tully Heritage Trail, Golden Gumboot and Hearts Full of Hope statue.
Covering 2224 square-metres, the hotel has been deemed a landmark hotel by locals and is commonly referred to as the “top pub” of the region – It has direct frontage to the busy main Butler Streets and provides connectivity to the Bruce Highway.
Savills senior executive of hotel Christian Tsalikis says Hotel Tully’s prominent CBD location benefits from high levels of exposure to both vehicles and pedestrians.
“The subject property also has excellent proximity to the Tully Swimming Pool, Magistrates Court, Tully Hospital, Visitor and Heritage Centre, and Showgrounds, all of which are within a two-kilometre radius.” he said.
