Redcape Hotel Group lists two large format pubs for sale in Mackay, Queensland

Multi-state hotelier Redcape Hotel Group has listed two large format pubs for sale in Mackay, Far North Queensland.

The MA Financial backed fund, the owner and operator of 35 hotels nationally, has engaged the services of expert agencies HTL Property and JLL in order to manage the EOI sale process.

The two Mackay hotels being sold by Redcape are The Shamrock Hotel and The Grove Hotel; both representing very large land holdings and enjoying multiple revenue streams in established areas of the burgeoning Queensland regional centre.

Redcape Managing Director, Chris Unger, indicated the likely sale of assets in a recent note to Fund investors; taking advantage of an asset class which enjoys the support of key operational and lending stakeholders, as evidenced by recent sales upon the national landscape.

“As we have demonstrated in the past, a key strength of the Redcape Group is the ability to leverage the depth and quality of the portfolio to selectively recycle capital through successful divestments. Fuelled by an amazing team of people, both The Grove and Shamrock have performed strongly for us over many years providing all-encompassing hospitality experiences for their communities,” said Unger.

“We’ve been fortunate to manage the sales of multiple FNQ based hotels to Sydney based investors in the past month, indicating to us a robust and still particularly fertile transaction platform for cross border investment by both corporate and private entities” added HTL Property, Managing Director, Andrew Jolliffe.

“Mackay is a significant regional centre in Far North Queensland, and the subject hotels illustrate the best examples of multi-faceted and highly profitable hospitality businesses; with the ability for a successful party to create a solid investment base should scale be an important objective” concluded JLL’s Tom Gleeson.

The two Redcape hotels in Mackay are being sold separately or in one line, via an EOI sale process concluding September 13, 2023.

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