Toowoomba motel, caravan park sold after 30 years
A sprawling suburban Toowoomba hotel and caravan park has sold to an operator.
The two hectare Jeffery’s Motel in Kearneys Spring cost $9.53 million following an expressions of interest campaign closing May.
The vendor held three decades.
It has been under management 16 years.
Zoned Major Centre, able to accommodate six level buildings, including residential, the asset was marketed to developers.
Next chapter for original motel
Jeffery’s Motel at 860-866 Ruthven Street, also known as the New England Highway, includes 43 rooms, rated 3-star.
It also contains 49 powered caravan sites, home to some 44 permanent residents.
Colliers’ Dan Dwan and Ray White Highfields’ Kent Woodford were the agents.
Ten offers came in, they said.
The incoming owner, registered as Gibbons Assets Pty Ltd, settled last month.
Kearneys Spring is about four kilometres south of Toowomba’s CBD.
Also this week we reported a Hungry Jack’s at Harristown, near Kearneys Spring, traded for $6.1m – a 4.45 per cent yield.
Subscribe to our newsletter at the bottom of this page.
