Carnarvon Hotel Hits Market

Perth, 26th March 2014 – The historic Carnarvon Hotel and motel accommodation is to be offered for sale by CBRE Hotels on behalf of KordaMentha as receivers and managers.

Constructed over two lots, with a total land area of approximately 6,103sqm, the hotel is centrally located within 200 meters of the CBD of Carnarvon with ocean views over Gascoyne River inlet “The Fascine”.

CBRE Hotel’s Ryan McGinnity has been appointed to steer the Offers to Purchase campaign. Mr McGinnity said the hotel had been a focal point of Carnarvon since it was built in 1913 after the original hotel was destroyed by fire.

“We believe the timing is ideal to acquire and grow this hotel and accommodation business, which could ultimately become one of Carnarvon’s most attractive and best performing premises,” Mr McGinnity said.

“In addition to the hotel business, the large site area could afford an incoming owner further development options.”

In summary, the Carnarvon Hotel includes;

• 27 rooms, main bar, TAB, pool room, bistro / restaurant with views over The Fascine

• A large land area in excess of 6,000sqm with further development potential

• Current trading in excess of $42,000 per week

With a population of over 6,000 people, Carnarvon is capital of the Gascoyne Region of WA, which includes the towns of Exmouth, Gascoyne Junction, Carnarvon and Shark Bay.

Agriculture is the prominent industry of the Gascoyne Region with a diverse range of vegetable and fruit products grown along the Gascoyne River.

Mr McGinnity said that the Hotel and accommodation was well supported by locals and tourists alike, with Carnarvon as much of a tourist destination as it was the economic capital of the Gascoyne Region.

Mr McGinnity added that the hotel’s location made it appealing to enjoy lunch and a drink while admiring the views over The Fascine, or to stay the night and use Carnarvon as a base to explore the coastal activity at Red Bluff, Gnaraloo or Quobba Station.

The Carnarvon Hotel is being offered for sale on a Walk In/Walk Out basis, with Offers to Purchase closing at 2pm on May 15 at the offices of CBRE Perth.

For further information contact Ryan McGinnity on 0417 719 712.

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 approximately 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 at www.cbre.com.