Rockhampton Travelodge sold for millions to Chinese investors
The Travelodge in the central Queensland city of Rockhampton has been bought by Chinese investors for up to $7 million from the Tucker Box Hotel Trust, a joint venture between Mirvac and the NRMA.
The 74-room hotel sports four conference facilities and will continue to be operated by TFE Hotels under the Travelodge brand.
Selling agent Hayley Manvell, senior negotiator with CBRE Hotels, says the property attracted deep interest.
Commercial Insights: Subscribe to receive the latest news and updates
“A stock shortage is helping to draw buyer attention to Queensland opportunities as investors are priced out of southern markets,” says Ms Manvell, who sold the property in conjunction with CBRE’s Wayne Bunz.
Meanwhile, JLL Hotels and Savills Hotels have listed the Mantra MacArthur Hotel on Northbourne Avenue, Canberra. The new hotel has 176 rooms.
This article originally appeared on www.theaustralian.com.au/property.