Bundaberg’s landmark Grand Hotel has been sold, amid strong ongoing demand for pub investment opportunities in regional Queensland.
Situated on a large 2,024sqm lot in Bundaberg’s CBD, the mighty Grand offers a large main bar area, restaurant, function facilities, beer garden, and 27 accommodation rooms, in recent years run as a 90-bed backpacker facility.
The property also incorporates seven retail tenancies, totalling 543sqm, adding to its revenue diversity.
For nearly 40 years the business was under the curation of Tomik Hotels, until the group was wound up in 2018, when it was sold to a private operator.
After the national pubs shut-down of early 2020, the Grand reopened in August sporting a major $1 million makeover. But the following March it announced on social media it had “closed until further notice”.
The Grand went to market in April on behalf of a mortgagee in possession, who appointed CBRE Hotels’ Paul Fraser to manage the sale.
It has now sold as a freehold going concern for circa $4 million, to a new unnamed private operator.
Fraser suggests there are “multiple options” for the incoming purchaser to reposition the business, inviting opportunity to cement it as a keystone property in the Bundaberg CBD.
