The NSW-based O’Hara Group has capitalised on the thriving north Queensland market, flipping the large-format Parkhurst Tavern to Steven Shoobridge’s expansive Star Group.
Located on a generous 6,700sqm cornet lot around nine kilometres from the Rockhampton CBD, adjacent to the Woolworths anchored Parkhurst town centre, the well-patronised hotel offers multiple bars, bistro and dining spaces, gaming lounge equipped with 36 machines that is approved for 42, and beer garden and kids play area, trading under a 4am licence.
O’Hara Hotels bought it from long-term owner Terry Morrow in 2023 for $18 million, and set about bolstering its family-friendly persona, adding a courtesy bus and prioritising “good old fashioned country hospitality”.
Shoobridge hails from FNQ and has utilised his Harvard Business School education to grow Star Group, which he majority owns, into one of the state’s largest privately-owned pub operators.
Star counts over 50 hotels, including prominent Brisbane venues such as the Hotel West End and Beaudesert Hotel, as well as more than 100 botteshops and six accommodation properties.
The group operates some hotel assets in South Australia, but the portfolio is focused in northern Queensland, and Star is believed to have paid around $23 million to add the thriving Parkhurst to the collection.
“We are happy with the purchase and the return it is showing compared to other sales of late,” responded Shoobridge, who has invested in multiple freeholds and two leases in the past year alone.
O’Hara Group hold dozens of hotel assets, predominantly in Sydney and regional NSW, with a few partnerships in the Sunshine State. The family-run company opted for an off market, invitation-only sales process, engaging HTL Property’s Glenn Price and Andrew Jolliffe to court suitable buyers.
Reflecting on FY25 sales volume across Queensland, agents say buyers are increasingly looking to larger regional centres like Rockhampton, seeing consistent population growth and strong economies.
“Purchasers from all states are willing to deploy more and more capital into the sector, as they strategically look to capitalise on the year-on-year growth the industry continues to achieve,” notes Price.
