Noosa Hinterland Hospitality Precinct Sold by HTL

Following disclosure by the highly regarded and Queensland based Comiskey Group, leading national brokerage agency, HTL Property, confirms a conclusion of negotiations between its client and the Comiskey Group regarding the sale of the hugely popular Imperial Hotel, Eumundi.

“The Imperial Hotel, and newly built HOLA boutique accommodation offering, present as a precinct rather than a simple hotel offering; and accordingly attracted the attention of astute industry participants who recognized value in the diversity of multiple complementary revenue streams” advised HTL Property Managing Director, Andrew Jolliffe.

The sale process, exclusively managed by HTL Property agents Andrew Jolliffe, Glenn Price and Brent McCarthy, saw a continuation of interstate interest; particularly from NSW, for another large format hotel asset.

“We fielded interest from a large number of hospitality investors, and whilst the successful party was Queensland based, it was clients with both Sydney and Melbourne based operations that presented the most interest” added HTL Property Director, Glenn Price.

Spread across a prominent and very large commercial footprint directly opposite the world famous Eumundi markets, the various assets presented to market included not only a traditional hotel and boutique accommodation offering; but also a brewery and gin and vodka distillery.

“The opportunity to acquire such a high quality collection of well executed experiential hospitality assets was incredibly rare, and our clients are to be commended for the clear commitment they have made to not only the profitable business unit they have expertly curated; but also the contribution this suite of businesses has made to the broader Eumundi and Noosa hinterland community” commented HTL Property Director, Brent McCarthy.

HTL Property would not confirm the sale price for the consolidated group of hospitality assets, but noted the continued market depth for A-grade hospitality businesses.

“We are encouraged by the quality of assets we are fortunate to be engaged to manage divestment strategies for, and can point to a recent track record which speaks favourably to the unsatisfied market appetite for high quality property backed hospitality and tourism assets” concluded HTL Property Managing Director, Andrew Jolliffe.

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