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Press Release

Townsville City Fringe Hotel to Market

HTL Property’s Glenn Price and Brent McCarthy are pleased to present for sale the strategically positioned Oonoonba Hotel, Townsville.

The single storey Oonoonba Hotel is situated on an expansive 3,739sqm* corner block with double street frontage. The hotel’s prominent setting sees it positioned within close proximity to local residential developments Fairfield Waters (2300 lots) and The Village Estate (1200 lots); and close to numerous shopping centres, schools and only 6km from the Townsville CBD.

The Hotel has operated under full management for over 10 years with the owner residing interstate, and consequently having no input into the day to day operation of the business. The current management company has operated the hotel for 7 years and is willing to work with the incoming operator if required.

Renovated in 2010, the Hotel offers a flexible lay-out with a central bar servery accommodating multiple areas of the Hotel. The hotel incorporates numerous leisurely spaces for dining, gaming and bar service; with a large all weather beer garden providing space for dining and events.

The popular Oonoonba Hotel is a rare opportunity in a tightly-held sector of the market; whereby astute investors have an opportunity to purchase a reliable cash flow business with clear operational upside in many key departments.

Significant value accretive opportunities exist in the gaming room through the implementation of Ticket in Ticket Out (TITO) and cash redemption terminals.

The gaming room features a semi-modern fleet with 6 Dragon Link and 5 Lightning link machines, while the remaining 17 machines would benefit from upgrades to further drive turnover.

A reconfiguration of the gaming room would further enhance revenues and provide access directly from the carpark; also enabling the expansion of the family friendly bistro area.

In addition to the dual lane drive-thru bottle shop onsite, the Hotel Licence provides for 3 detached bottle shop licences, which currently sit dormant and could be activated by an incoming operator. Positioned just 6km’s from the Townsville CBD within the south western growth corridor of Townsville, Oonoonba’s permanent resident population of 7,400* provides a large catchment with minimal competition.

This rare Coastal Queensland hospitality asset is being offered by way of a National Expression of Interest campaign closing Wednesday 23rd March 2022.

End.

 

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