HTL Property Sells Iconic Qld Pub

Following the earlier announcement of the leading national agency’s sale of the Parkhurst Tavern, HTL Property today proudly announces the successful sale of another large format Queensland pub, in the form of Rockhampton’s legendary Gracemere Hotel.

The imposing Gracemere Hotel is the second sale announced by HTL Property agents Glenn Price, Andrew Jolliffe and Dan Dragicevich for the same valued Vendor; The O’Hara Group.

“We’re delighted to have transacted again successfully on behalf of our interstate clients, and in respect of another iconic Queensland Hotel” advised HTL Property Qld Director, Glenn Price.

Rockhampton, a leading regional centre and famous internationally for its beef cattle production, is an agricultural powerhouse located just inland from Yeppoon and straddling the bountiful Fitzroy River – which itself has been tagged as a potential host venue for the 2032 Brisbane Olympic rowing venue.

The sale of “the Gracie” see’s the O’Hara Group exit Queensland with the group already acquiring two additional NSW based assets which are both due to settle in coming weeks.

The successful purchaser of the Gracemere Hotel is the highly regarded CQ Hotel Group, which adds the hugely popular hospitality asset to its growing portfolio of ten existing Qld hotels. “Our company has held a long-term interest in Central Queensland, investing in and owning multiple hospitality assets within the region. The Gracemere was a logical purchase on these grounds enabling us to extend our portfolio, and acquiring an asset that has shown consistent historical trade; while being at the forefront and a social hub of the local community. We will look to continue the heritage of the venue, servicing the local community with traditional country hospitality” advised Anthony Fargus, owner of the CQ Hotel Group.

Assisting in the sale, Robert Hunter of Power Jeffrey commented “The Rockhampton region is one of the most stable regions across Queensland, with all the key economic drivers of a sizable regional centre. Growth projections are some of the strongest in the state and can be already seen with the level of investment and development currently under construction and planned into the future”.

“Several hundred million dollars’ worth of cross-border deals have been consummated already this year, pointing to a confluence of market depth and asset class confidence” concluded HTL Property Managing Director, Andrew Jolliffe.

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