Leading brokerage firm HTL Property has been selected to market for sale the large format Gracemere Hotel by way of a national Expression of Interest campaign.
Positioned within Rockhampton’s fastest growing urban centre 10km from the CBD, the exceptional hospitality venue is the only Hotel servicing the surrounding region with 13,500* local residents as its audience.
Located on a 3,970sqm* site the opportunity also enjoys an additional 3,288sqm landholding, which is improved via a 4-bedroom Manager’s residence; and offers future development potential due to favourable zoning.
“The Gracemere is a very popular and diverse business, with all departments contributing to the profitability of the operation” advised HTL Property Director, Glenn Price.
“That said, the property promotes clear upside across multiple business lines; including in relation to the 33 tightly held Coastal Gaming Machine Authorities and with approval for a total of 37 to be housed on site” added Price.
“Accordingly, there exists clear gaming upside for an incoming operator by virtue of increasing the permissible number of Gaming Authorities and trading hours indexed to the venue” Price concluded.
The well-presented hospitality operation requires limited capex, offering enviable facilities including: TAB, gaming room, public bar, bistro, large beer garden and kid’s play area. A popular drive-through bottle shop services Gracemere and surrounds.
“In terms of patronage, the hotel benefits prosperously from its proximity directly opposite the Woolworths anchored Gracemere Shoppingworld Shopping Centre ” commented HTL Property Director, Brent McCarthy.
“In addition, our interstate Vendors have operated the business under a management structure throughout their ownership tenure; which speaks to the ease of operation” McCarthy added.
Exclusive agency HTL Property will market for sale The Gracemere Hotel via a national Expression of Interest campaign concluding 28 April, 2022.
Join Mailing List