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Press Release – Gracemere Hotel

HISTORIC GRACEMERE HOTEL FOR SALE

An historic hotel that offers an incoming buyer a business with strong departmental
trade with the ability to improve the business through further expansion is located in
the fast growing suburb of Gracemere near Rockhampton in central Queensland is
offered for sale through Ray White Hotels Australia.

The Gracemere Hotel on the Old Capricorn Highway at Gracemere is being
marketed in an Expressions of Interest campaign by Tony Bargwanna and Leon
Alaban of Ray White Hotels Australia.

Mr Bargwanna said the hotel, which comprises a double storey building originally
constructed in 1885, enjoys a reliable trade and no immediate competition in a
diverse local economy.

“The hotel in the 2012-13 financial year generated turnover of approximately $7
million plus gaming revenue,” he said.

“It’s located on a prominent intersection and is adjacent to the recently opened
Gracemere Shopping World, which has Woolworths and Best & Less as anchor
tenants.”

Mr Bargwanna said the hotel is on a land area of approximately 2,829 sqm, there
have been multiple renovations and refurbishments to the property since it was first
built.

“The hotel’s facilities consist of a sports bar, a bistro and dining area accommodating
around 175 patrons, a gaming lounge with 30 EGMs, PubTAB, Keno, a bottle shop,
commercial kitchen, children’s playground and eight hotel guest rooms,” he said.
“The current owners have identified that the sports bar and beer garden would be
next areas of growth for the Hotel; concept plans for future works to these areas have
already been prepared.”

Mr Alaban said the well-appointed gaming room could easily accommodate an
additional 10 electronic gaming machines, subject to approval.

“For strategic purchasers, we also believe the acquisition of a vacant block of land
adjacent to the hotel car park could be targeted to construct a motel or expand the
bottleshop and the car park area,” he said.

Mr Alaban said Gracemere had been a growth “hot spot” in recent years due to the
resources boom and its role as a major beef cattle saleyard for Queensland.

“The Queensland government and the Rockhampton Regional Council have
identified the Gracemere Industrial Area as regionally significant,” he said.
Gracemere is a satellite township of Rockhampton, situated approximately 11km
from the Rockhampton CBD. Rockhampton is approximately 635km north of
Brisbane.

Expressions of Interest for the Gracemere Hotel close at 4pm (AEST) on
Wednesday, November 13, 2013.
ENDS

For more information:
Tony Bargwanna
Mb: 0411 544 451
Leon Alaban
Mb: 0422 011 455

About Ray White
Ray White is the largest real estate and property group in Australasia. The company, established in
1902 at Crows Nest in Queensland, has almost 1,000 individual offices spread across Australia, New
Zealand, Indonesia and India as well as newer offices in key locations in the Asian region and the
United Arab Emirates. The brand is represented by more than 8,000 staff, has an annual sales turnover
in excess of $30 billion and manages more than 300,000 rental properties.

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