This article is from the Australian Property Journal archive
TOWNSVILLE’S Oonoonba Hotel has been listed for sale.
Located in Townsville’s CBD, the 3,739sqm hotel site at 78 Abbot St comprises a beer garden, large TAB and gaming area, lounge bar and bistro, and eight motel units, as well as a sealed car park with around 60 spaces and drive-in bottle department.
CBRE agents Paul Fraser and Glenn Price have been appointed to sell the freehold in the conjunction with Power Jeffrey & Co’s Peter Power and Andy Nason via expressions of interest closing August 10.
Fraser said the sale would capitalise on the ongoing strength of Townsville’s economy.
“Townsville is positioned for major economic growth over the coming years, with more infrastructure projects mooted than in any other regional Queensland city.
“Assets such as the Oonoonba Hotel offer an attractive opportunity for an astute investors looking to secure a foothold in a city destined for strong economic growth in the foreseeable future,” he added.
Power said the hotel had undergone an extensive renovation program in recent years.
“Ideally the hotel would suit a hands-on owner-operator or smaller hotel group. Its practical layout provides for efficiencies in staffing and overall ease of operation,” he said.
Australian Property Journal
