Gladstone's multi-million dollar pub attracts interstate buyers

Queens Hotel, Goondoon Street, Gladstone. Photo Brenda Strong / The Observer
Queens Hotel, Goondoon Street, Gladstone. Photo Brenda Strong / The Observer Brenda Strong

THE campaign to sell Gladstone's Queens Hotel and Sarina's Tandara Hotel Motel has been extended to this Friday

The sale, managed by CBRE Hotels, was extended after interstate buyers could not inspect the two hotels after Cyclone Debbie drenched Gladstone and ripped through Mackay.

CBRE Hotels Queensland director Paul Fraser said he had up to ten interested interstate buyers who were visiting the two sites this week.

Mr Fraser estimated the Queens Hotel could fetch up to $5 million, but said considering Gladstone's real estate market, the price "could be anyone's guess".

Current owners Queensland Town and Country Pubs are selling off all of its hotels, with the Queens Hotel and Sarina's Tandara Hotel the final two.

The extended expressions of interest campaign will allow interested buyers to visit both pubs this week.

It was originally due to close on April 12.

Topics:  gladstone property

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