Developments
Mackay hotel sells for $9m
The Blacks Beach Tavern in Mackay, Queensland has sold for $9.4 million to the Central Queensland Hotel Group.
CQHG, which owns the Blackwater Hotel, the Jolly Collier in Dysart, Coal ‘n’ Cattle in Moura and the Brolga in Tieri, is enjoying high occupancy rates in the accommodation in all its hotels due to high demand from mining and contractor companies for employees.
CQHG managing director, Anthony Fargas, said the state of the industry in Queensland had certainly changed and confidence is returning to the market this meant it was good time to buy.
The sale was brokered by Power Jeffrey & Co.
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