Developments

Rocky hotel sold to Sydney buyer

Rockhampton’s Saleyards Hotel will come under new ownership this week after being sold to a private Sydney-based investor.

Glenn Price, of CBRE Hotels, marketed the freehold sale of the hotel through an expressions of interest campaign which he said had generated good buyer interest, predominantly from Queensland investors.

The Gladstone Rd venue features a single bar with multiple service points, a recently renovated restaurant, a gaming room with 15 gaming machine authorities, a commercial kitchen, manager’s accommodation on the first floor and six rooms adjacent to the main hotel providing bed-sit style accommodation and bathroom facilities. It will all remain open and under the current management.

The hotel is leased to an established lessee on a 14-year term including an option and will remain open with no changes to the bar, accommodation or attached Crooked Cactus family restaurant.

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