HTL Property Sells McNevin’s Logan Park Motel for over $6m

Specialist brokerage firm HTL Property, has successfully concluded the sale of the McNevin’s Logan Park Motel, a resort-style motel strategically located in the booming Brisbane-Gold Coast corridor.

Loganholme is an unprecedented growth region due to its strategic location midway between Queensland’s capital, Brisbane and the world-renowned Gold Coast. It is optimally poised for expansion in population, housing, business, innovation and infrastructure. The area is already underpinned by the iconic theme parks plus major business and industrial hubs as well as a number of sporting and entertainment venues.

“The diverse drivers of the region, from tourism to business drive the motel’s year-round occupancy rate, which sits at a very healthy 80%. And in the context of the forecast growth in the region, the long term opportunity here is outstanding” said Paul Nyholt, HTL Property’s Queensland Director of Accommodation.

“We fielded over 100 enquiries from a broad range of investor profiles and this resulted in competitive bidding for the freehold going concern asset” said Andrew Jackson, National Director of HTL Property.

“Trading performance of this motel – like the majority of those that we have been involved with this year – has remained robust. The fundamentals of ongoing corporate travel demand, along with leisure demand that is now including the return of inbound travellers at higher rates than we have seen in awhile, plus high occupancies, is giving ongoing confidence to the investment market for hotel and leisure assets”.

McNevin’s Logan Park Motel offered 23 oversized and well-appointed guest rooms complemented by facilities including a 50 seat restaurant with cocktail bar and lounge, a resort-style swimming pool with spa, tennis court and a pavilion surrounded by manicured lawns.

The freehold going concern motel occupies a substantial 7,499sqm landholding and benefited from an existing approval in place for 34 additional guest rooms plus 50 beds in a dormitory-style bunkhouse as well as new central facilities and larger, multi-purpose function facilities.

The property has been sold to a private owner operator with industry experience.

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