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Yeppoon watering hole sells for $6.5m

This article originally appeared in The Morning Bulletin

It is no doubt an ideal that has been entertained by many, but now the prospect of owning a pub near a beach is a reality in Yeppoon.

Independent Australian wealth and asset management firm, Real Asset Management, has successfully sold off the hotel component of Keppel Bay Plaza (The Railway Hotel) for $6.5 million in a deal brokered by JL L Hotels & Hospitality’s Vice President, Tom Gleeson.

The Railway Hotel and adjacent Star Liquor Warehouse were recently secured on new long-term leases, expiring in 2033.

Real Asset Management Head of Real Estate, Will Gray, said after parting ways, the business had upcoming plans for the remainder of the plaza precinct.

“We are continuing to see expenditure growth in Yeppoon and are excited by our proposed redevelopment plans for Keppel Bay Plaza,” he said.

Mr. Gleeson described the Railway Hotel as a “premier venue” underpinned by strong trading while benefitting from its convenient location within Keppel Bay Plaza. Information surrounding the purchaser of the hotel and bottle store has not yet been made available.