Country motor inn trades between operators
Redhill Hospitality has shed a regional New South Wales motel, restaurant and bar after eight years.
The Crest Motor Inn at Queanbeyan, near the ACT border, traded for $5.1 million to Onkar Enterprises, which recently sold a Sydney leasehold.
A renovation is planned; the 1626 square metre block contains 30 rooms, rated 3-star, which this year already generated $972,000 in accommodation revenue.
A hotel and restaurant is also onsite.
Redhill, which paid $2.26m, will upsize in the area.
It was represented for the freehold going concern sale by MQ Brokers’ Ray Larkin and Malcolm Mathie.
Subscribe to our newsletter at the bottom of this page.
