A popular South East Queensland hotel has changed hands for the first time in more than a decade.
The Beaudesert Hotel at 80 Brisbane Street, Beaudesert, has been sold by Leon Alaban and Sean Dollar of Ray White Hotels Australia on behalf of McVicar Trading
Mr Alaban of Ray White Hotels Australia said the hotel had strong competition and was purchased as a freehold going concern for an undisclosed sum.
“The buyer is excited about the future of the hotel and was delighted to purchase a business in one of Queensland’s growth regions,” he said.
Mr Alaban said the sale was a solid result for the Queensland pub market and it showed that there is still a good level of interest for well presented assets such as the
Beaudesert Hotel. “We had genuine interest for the hotel throughout the marketing campaign with more than 20 enquiries for the property,” Mr Alaban said.
“There is no doubt pub buyers are buying well at present and the increase in enquiry confirms this. “We will continue to see more transactions within the sector in the short and medium term; it is important to note that between our Brisbane and Sydney offices we currently have circa $26m in deals due to settle and a further $160m under offer or in a due diligence process.”
Mr Dollar of Ray White Hotels Australia said “the Beaudesert Hotel was recently renovated and had since enjoyed strong trade across all departments.
“The previous vendors Brad and Carolyn McVicar had owned the hotel since 2000 but decided to sell to focus on other family business interests.” uyers which are waiting for a ‘bell to ring’ to identify the bottom of the market may well miss their opportunity to buy,” Mr Dollar said.
“In comparison to last year our average enquiry rate has increased by approximately 15% year-on-year; it appears that buyer confidence is returning in the pub market, in
Join Mailing List