Buy the only two hotels in town

The Commercial Hotel at Tara in Queensland.
The Commercial Hotel at Tara in Queensland.

It’s not often you can corner a town’s entire hotel market in one property move.

But that’s the opportunity that presents at Tara in Queensland’s Western Downs region, where the only two hotels in town are being sold as a pair and are already attracting good interest.

The Commercial Hotel and the Tara Hotel Motel are being offered in one line, opening up an opportunity to secure the existing business and potentially expand them.

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While the Commercial Hotel is currently operating with 13 rooms, six self-contained cabins, a three-bedroom manager’s flat, a public bar, drive-through bottle shop, restaurant, 12 gaming machines, TAB and Keno, the Tara Hotel Motel is not officially operating.

Instead its 25 motel rooms accommodate overflow from the Commercial Hotel via its 25 rooms, six of which were recently refurbished.

The Tara Hotel Motel is also being sold with four gaming authorities, which can be activated if the venue is reopened under new ownership, or may be sold through tender.

The Tara Hotel Motel currently handles overflow from the Commercial Hotel.

Savills Hotels’ Joe Ganim and Christian Tsalikis are marketing the hotels, which will be sold through expressions of interest.

Ganim says the Commercial Hotel, which occupies a 2071sqm site, offered the potential to expand its operation.

“The opportunity is suited to an owner operator, however the hotel’s trade has the ability to support a management team, opening up the opportunity to a wider market,” Ganim says.

Tsalikis says that given the Tara Hotel Motel is currently not operating, its upside is substantial.

“There is an opportunity for a new buyer to capitalise on the value-add opportunities with the land size obviously providing plenty of upside potential,” he says.

Expressions of interest for the hotels close at 4pm on Thursday, November 7.