Brisbane, 03 November 2014 –CBRE Hotels has been appointed as marketing agent of The Cobb & Co Hotel, St George and Rams Head Hotel, Millmerran.
The sale of each Queensland property involves the freehold going concern interest, with the properties to be sold “as is” incorporating fittings, fixtures and chattels.
Glenn Price and Don Watson-Brown of CBRE Hotels will steer the sales campaign via an Expressions of Interest process closing on the 4th of December 2014.
The sale of The Cobb & Co Hotel includes the Commercial Hotel Licence with 19 Gaming Machine Authorities while the Rams Head Hotel includes the Commercial Hotel Licence with 11 Gaming Machine Authorities. Each licence also carries with it the ability to seek approval for up to three Detached Bottle Shops.
“The sale of each property provides an opportunity for hotel operators and investors to secure well-appointed country hotels underpinned by capital values, namely the gaming machine authorities, the unimproved site value and the improvements on the land,” Mr Price said.
The Cobb & Co Hotel is located within the Balonne Shire Council. St George is situated approximately 500km west of Brisbane and approximately 100km from the NSW state border.
“The hotel offers the incoming operator a traditional “country style” pub with a public bar and sports bar, a paved beer garden, eight accommodation rooms and a three bedroom manager’s flat with a drive through bottle shop onsite,” Mr Watson-Brown said.
St George is part of the greater Balonne region, which is known for its agricultural heritage and is located on the banks of the Condamine River.
The Rams Head Hotel is located near the centre of the Millmerran township approximately 80km from Toowoomba and approximately 200km from the Brisbane CBD. It comprises a two storey brick and timber building with a main bar, PubTab, drive through bottle shop, beer garden, dining room and gaming lounge. There are 10 hotel rooms, communal bathrooms and a three bedroom manager’s residence located on the upper level.
“The township of Millmerran is situated on the Gore Highway, which provides a link between Toowoomba and Goondiwindi on the NSW state border. It services an agricultural area within the Darling Downs, with primary production industries within the immediate region including stud and beef cattle, poultry, pork and sheep, grain and cotton farming,” Mr Watson-Brown said.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.