The big Newmarket Hotel is new to market, representing a picturesque canvas in the centre of thriving Townsville.
Situated on a prime corner site, the pub is close to popular attractions, major transport links and commercial establishments.
It is within walking distance of the CBD and late-night precinct, surrounded by planned residential and commercial developments, and the closest hotel to the Queensland Country Bank Stadium, set to host almost 40 events this year including NRL matches and headline concerts.
The unofficial capital of northern Queensland, Townsville is booming on the back of major reinvestment and infrastructure projects, spurred by southern migration. There are new hospitals, the port is being upgraded, defence and military presence is being expanded, and the huge $3 billion Magnis Lithium-Ion battery plant is underway.
A stately icon of the precinct, the Hotel is a large-format two-storey structure, with classic Queenslander veranda on two frontages, overlooking Flinders and Blackwood streets.
It boasts a rich history and strong reputation with both locals and tourists, leading a party of investors led by Richard Mraz to take the deeds in 2017.
Substantial recent renovations have reinvigorated the property, and the 15 accommodation rooms have been achieving good reviews.
There is also a manager’s residence, and three bars and a restaurant, but these have not been trading and there are no revenue figures, although the foodservice is said to be “primed for relaunch”.
After a significant pandemic-induced delay, the private owners have listed the asset in a campaign through JLL Hotels’ Mark Walsh, who suggests it is a hotel of “impressive style and opportunity” that would likely suit an expanding operator.
“This is the perfect time to be part of this thriving city,” he says.
“Townsville is booming, and the right entrepreneur can pick up a fully renovated hotel at an entry level price.
“Its prominent location, solid reputation, and potential for growth make it an attractive proposition for investors and operators in this hospitality market.”
The vacant freehold Interest in the Newmarket Hotel Townsville is being sold via Private Treaty.
