Redcape Hotel Group is relinquishing one of its future plans, divesting its Fairfield Waters site to focus on core assets.
One of the country’s largest gaming-based hotel groups, Redcape currently operates 26 venues nationally, and is looking for more Sydney freehold going concerns to further the portfolio.
Located on a prominent corner in the Queensland suburb of Idalia, the 9,871 m² site already possesses development approval and provisional liquor and gaming licences for 45 EGMs, secured by Redcape, and a layout offering “development flexibility”.
It is being marketed by JLL Hotels, and national director John Musca says the blank canvas will appeal to a number of markets.
“Combining the development and tavern licencing approvals with the retail mix and growing population, we expect there to be strong interest from not only the hospitality sector but also traditional retail providers.”
Idalia is home to the burgeoning master plan of Fairfield Waters – billed as ‘Townsville’s Ultimate Address’. Its creators describe it as “a fully master-planned community, designed by Australia’s top town planners to create the best possible environment in which to live”.
The site is being marketed via an Expressions of Interest campaign, closing 7 June, 2016.