Australia’s largest publican is amongst those finding continued appetite for regional hotels in the post-COVID environment, as the Horse and Jockey of Warwick joins the stable.
Well known to both locals and tourists to the region, the Horse and Jockey is a full-service hotel-motel, offering public bar, TAB and Keno, gaming room with 22 machines, bistro, beer garden, accommodation and a drive-through bottleshop.
It is found in the heart of Warwick, around 130 kilometres south-west of Brisbane, where it occupies a 3,503 sqm site a block from National Highway 15.
The classic country pub has a rich history. It burned down in the mid-60s, and the current structure was built in 1967.
For a number of years it was the domain of famed Australian rugby league player Harry Bath, who turned to coaching after winding up his career in 1959, going on to steer St George to premierships in 1977 and 1979, and Australia to a World Cup victory at home in 1968.
Late 1996 Mr Corks Liquor Group purchased the site from Bath. The following year the Group conducted major renovations to the main hotel building, reconfiguring the floorspace, remodelling the bar and interior, and reinstating 10 rooms attached to the main building.
Mr Corks Liquor Group received an off-market approach by the unnamed buyer, believed to be Australian Leisure & Hospitality (ALH), and a sale was orchestrated through Savills Hotels.
“This is the first time the asset has been sold since 1996, and illustrates the strength of the region and the consistent performance of the hotel,” offered Savills’ Leon Alaban.
ALH operate around 350 pubs throughout Australia and hold a suite of pubs in Queensland’s south-east, but the Horse and Jockey Hotel Motel is the group’s first acquisition in Warwick.
The pub reports consistent revenue across divisions, underpinned by the benefits from Mr Cork’s ongoing capex, and embodies the non-metro investment criteria being sought by groups in Queensland.
“The demand for quality regional investments remains strong with The Horse and Jockey illustrating strong market growth for hotels in Queensland,” added Alaban.
