Heritage Hotel moves on from Rocky year
The iconic 110-year-old Heritage Hotel in Rockhampton is to go under the auctioneer’s hammer in November on behalf of receivers and managers.
The heritage-listed hotel at 228 Quay Street, which still features much of the original metal lacework balconies and period adornments, is a three-storey building that overlooks the Fitzroy River and is surrounded by historic buildings in the Rockhampton CBD.
The majestic hotel was extensively renovated in October 2005, with the ground and first floors completely remodelled.
But the hotel closed its doors in March this year, with owner Will Fowles saying Tropical Cyclone Marcia had ended his hopes of keeping the business afloat.
“Unfortunately, the impact of the drought, the changes to the coal industry and the cyclone have all impacted our business (along with many others),” Fowles says.
“We have been unable to sustain significant trading losses any longer and in the end, the cyclone was the final straw.”
The property is being marketed by Leon Alaban and Brent McCarthy of Ray White Hotels Australia, under instructions from John Park and Kelly-Anne Trenfield, of receivers FTI Consulting.
Pubs are back to being the flavour of the month at the moment
Ray White Hotels sales manager Leon Alaban says: “The hotel was extensively refurbished in 2005 and it comprises three bars, a gaming room with 14 EGMs, function rooms, a manager’s residence and office areas, a restaurant with a commercial kitchen and 20 accommodation rooms.
“The accommodation rooms are located on the second floor and some rooms have views of either the Fitzroy River or the Rockhampton CBD.”
Alaban says Ray White has already fielded a good level of interest from a mixture of investors, ranging from publicans, locals and interstate investors.
“Pubs are back to being the flavour of the month at the moment and with a number of assets on the market around the state, we are having a lot of success matching up buyers and sellers of pubs,” he says.
Ray White Hotels sales executive Brent McCarthy says the freehold estate and business assets of the Heritage Hotel are being offered for sale with vacant possession. The hotel is zoned ‘Precinct 1 – Commercial Precinct Central Business District Retail Core’ under the provisions of the Rockhampton City Plan.
“The hotel is on a land area of approximately 809sqm and has frontage to Quay St, Williams St and Quay Lane,” McCarthy says.
The original hotel that stood on the site was built in 1859 but was demolished in 1897, with the current structure built by Rockhampton locals J.W. Wilson and J.K. Evans.
The auction will be held at Level 26, 111 Eagle St, Brisbane, at 10.30am on Friday, November 13.