Downie family sell outback pub
The Downie family has sold the freehold to Hughenden’s Royal Hotel.
The 6222 square metre holding, 19-23A Moran Stret, was asking $1.6 million, but is trading for an as yet undisclosed price.
The pub includes a bar, restaurant and gaming room with 17 electronic gambling machines.
It also contains guest accommodation.
The purchase price reflects a 6.77 per cent yield, Savills marketing agents Leo Alaban and Joseph Ganim, said.
“The transaction highlights the growing interest and confidence in Queensland’s regional hotel and tourism sector as investors recognize the sustained and future potential value of these assets,” they added.
Hughenden is 380 kilometres west of Townsville.
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