Brisbane’s prominent Acacia Ridge Hotel listed for sale

​Brisbane, 26 February 2014 – Brisbane’s landmark Acacia Ridge Hotel has been listed for sale for the first time in 13 years in a campaign tipped to generate significant interest from investors and developers.

The high profile hotel occupies a strategic 18,450sqm landholding in Brisbane’s south-east growth corridor.

It has been listed for sale by Expressions of Interest through Glenn Price and Joel Fisher of CBRE Hotels.

Mr Price said the hotel would have wide-ranging appeal given its historically strong trading performance, future upside and significant development potential subject to the relevant planning approvals.

“We expect strong interest from a wide spectrum of hotel investors given the property’s strong and consistent trading figures across a range of revenue streams and the potential to significantly enhance future trading revenue,” Mr Price said.

“Keen developer interest is also likely, given the hotel occupies such a large site just 14km from the CBD on Beaudesert Road, which is one of Brisbane’s major transport thoroughfares.”

The substantial multi-level hotel is being sold with 40 Gaming Machine Authorities and three Detached Bottle Shop (DBS) licenses, two of which are operational.

It offers a gross floor area of over 9,000sqm including multiple bars, gaming rooms, functions rooms and a bistro as well as a large, drive-through bottle shop, 27 motel rooms and 233 car parking spaces.

Excluding the existing hotel, there is superfluous land of circa 4,000sqm. Mr Price said this would afford an incoming owner the opportunity to extend the existing operations or undertake a complete redevelopment of the entire site to capitalise on its Multi-Purpose Centre MP3 zoning, which allowed for a range of retail uses.

The site also benefits from more than 120metres of frontage of Beaudesert Road.

“There is also significant potential to redesign and refurbish the current hotel offering to modernise the operation and further promote the business to increase the existing revenue,” Mr Fisher said.

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 2012 revenue).  The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 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 at www.cbre.com. About CBRE Group,Inc.