Deltine adds $12.2m asset to motel fund
Deltine Capital has acquired a Central Queensland asset for $12.2 million, taking its High Yield Motel Fund’s reported value beyond $100 million.
The four-level, four-star Gladstone Hotel overlooking Gladstone Harbour is the fund’s ninth acquisition and first in Central Queensland.
The freehold going concern contains 72 rooms with Rocksalt Bar and Restaurant under a sublease, with a Vibe Café, conference facilities, swimming pool and parking.
The hotel also services leisure visitors travelling to the southern Great Barrier Reef and Capricorn Coast.
Gladstone has an industrial economy centred on its port, alumina refining, aluminium production and LNG processing.
Conrad Prestige and Commercial Real Estate’s Maxwell Conrad and Cleo Conrad were the agents (continues below).
Following the deal, the fund holds assets worth $101.5m.
The Brisbane-based manager focuses on acquiring and operating regional accommodation assets, using a centralised operating platform.
The trust, which was established in 2025, also holds assets in Dalby, Ipswich and Toowoomba.
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