The Strand Hotel and surrounding land has hit the market, offering operators or developers “one of the last strategic land holdings” on the thriving east coast of Queensland.
A local landmark, The Strand Yeppoon sits central in the redevelopment project for the area, bringing $45 million of Federal and State funding seeking to position the rapidly evolving town as an alternative to Cairns and Airlie Beach.
The Hotel and five surrounding parcels of land offer 4,924 m² of prime oceanfront real estate near Great Keppel Island, with zoning permitting a number of development options.
They are being divested by David Shannon’s Brookport Holdings P/L, due to the opportunities arising from the area.
“My business partner and I have had the hotel and development land for over 12 years,” said Shannon.
“It is no secret that the site is highly coveted and with the local council having a proactive focus on development, we feel the timing is right to unlock its true potential.”
Livingstone Shire Council Mayor, Cr Bill Ludwig, says the Yeppoon foreshore is undergoing a major transformation and significant urban renewal.
“The Strand Hotel and adjoining sites are the jewel in the crown in terms of positioning in Yeppoon, and we expect the foreshore revitalisation and new car park development to strongly compliment the site’s development potential.”
The sale campaign is being managed by CBRE Hotels’ Darren Collins and Glenn Price, who flag the upsides in both new construction and the hotel’s existing operation.
“For over 60 years, The Strand has been a favoured watering hole for locals and travellers alike, providing a fantastic setting to enjoy all the offerings of the Yeppoon lifestyle,” says Price.
“Strategically positioned hotels such as The Strand are historically very tightly held across the east coast of Australia, which should prompt strong interest from the hotel sector, in addition to the expected development focus.”
The assets are being offered for sale individually or in one line via an Expressions of Interest campaign concluding June 15, 2016.