MQ & Associates successfully sells Macquarie Barracks Motor Inn, Port Macquarie
The acquisition reflects a trend MQ & Associates is seeing across the sector, with pub owners developing a thirst for accommodation assets
Manenti Quinlan & Associates has successfully facilitated the sale of the Macquarie Barracks Motor Inn in Port Macquarie to experienced pub owner Alistair Flower, in a strategic acquisition that further highlights the growing appetite among publicans for quality accommodation assets.
The 37-room, four-star Macquarie Barracks Motor Inn at 103 Hastings River Drive represents a significant addition to Mr Flower’s popular Settlers Inn, which adjoins the motel, providing an established accommodation operation in one of NSW’s fastest-growing coastal centres. The acquisition consolidates the adjoining Settlers Inn and Macquarie Barracks Motor Inn operations, creating a substantial hospitality and accommodation precinct across approximately 3.5 acres and adding a complementary accommodation revenue stream to the established hotel business.
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Macquarie Barracks Motor Inn was initially brought to market by Regional Motels as a leasehold opportunity. During the sales process, the transaction evolved into a freehold sale, providing Alistair Flower with ownership of the adjoining accommodation asset and creating a compelling long-term strategic fit with the Settlers Inn.
The sale of the Macquarie Barracks Motor Inn represents the first settlement from Regional Motels’ strategic divestment of its accommodation portfolio with a further two properties due to be settled by MQ & Associates in the coming weeks.
Port Macquarie offers a strong combination of tourism, business and regional infrastructure, with the town located on the Mid North Coast at the mouth of the Hastings River. The area has an LGA population of approximately 92,650 and is identified as one of the fastest-growing areas in NSW.
Publicans developing a thirst for accommodation
The successful acquisition reflects a trend MQ & Associates is increasingly seeing across the hospitality sector, with pub owners developing a thirst for accommodation assets.
For experienced publicans, the move into motels and accommodation businesses can provide a natural extension of their hospitality operations, allowing them to diversify their interests while applying existing operational and customer-service expertise to another segment of the market.
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MQ & Associates’ Malcolm Mathie said Alistair Flower’s acquisition was a strong example of this strategic approach. “We’re seeing a growing number of successful pub owners looking at accommodation as the next step in expanding their hospitality interests. They understand the operational side of the business and are looking for quality assets in locations where there is strong underlying demand.”
A strategic regional acquisition
For Alistair Flower, the Macquarie Barracks Motor Inn represents more than simply an accommodation purchase. Its Port Macquarie location provides a strategic position on the NSW Mid North Coast, approximately 390 kilometres north of Sydney and 570 kilometres south of Brisbane.
The location provides a strategic position between the Sydney market and the major tourism destinations of Byron Bay and Gold Coast regions, while also benefiting from the established tourism appeal of the Mid North Coast.
Related AccomNews story: Brisbane CBD hotel changes hands in competitive sale
The property is a quality four-star corporate motor inn with strong, consistent trade and occupancy above 70 per cent for many years. The property also presents potential upside through the conversion of the existing residence into additional accommodation rooms.
Ray Larkin of MQ & Associates said the transaction demonstrated the continuing depth of demand for well-positioned accommodation businesses. “The Macquarie Barracks Motor Inn attracted the attention of an experienced pub owner looking strategically at the accommodation sector. It’s exactly the type of transaction we’re seeing more frequently; hospitality operators recognising the value of accommodation as part of a broader investment strategy.”
