Rockhampton hotel sold on behalf of receivers

Brisbane, 24 June 2013 – The freehold of the Saleyards Hotel in Rockhampton has been sold to a private Sydney-based investor on behalf of PPB Advisory as Receivers and Managers.

Glenn Price of CBRE Hotels marketed the freehold via an Expressions of Interest campaign.

The Saleyards Hotel occupies a 1,040sqm corner site on the Bruce Highway in Allenstown, approximately three kilometres south west of the Rockhampton CBD. It features a single bar with multiple service points, a recently renovated restaurant, a gaming room with 15 Gaming Machine Authorities, a commercial kitchen and manager’s accommodation located on the first floor.

In addition, the offering includes six rooms adjacent to the main hotel providing bedsit style accommodation and bathroom facilities.

Mr Price said the campaign had generated good buyer interest, predominantly from Queensland investors.

The hotel is leased to an established Lessee on a 14 year term including an option.

Rockhampton is the major city for the Central Queensland region and the area surrounding the city supports a significant agricultural industry.

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.au.