After almost 20 years of ownership led by the Irvin Hotel Group, the freehold going concern of the Overlander Hotel and attached bottle shop in Mount Isa has been sold.
In an off-market transaction managed by JLL Hotels & Hospitality Group, Victoria-based hospitality group Black Rhino Group has acquired the regional Queensland pub.
Located on Marian Street in Townview, Mount Isa, the Overlander Hotel occupies a prime large-format site with 40 electronic gaming machines (EGMs), 20 motel rooms, a large drive-through bottle shop, and a sizeable car park.
According to JLL, the hotel has long been a consistent and strong earner for the departing owners, for whom the sale is a divestment mandate.
On LinkedIn, the Black Rhino Group said it was excited to welcome the Overlander Hotel to its portfolio: “With services offering gaming, bistro, bar and accommodation, Black Rhino Group is looking forward to continuing the growth of this excellent pub and we have got more exciting acquisitions to come.”
With almost 30 pubs in Victoria, Black Rhino Group began the diversification of its portfolio by moving into South Australia after the relaxing of gaming laws in recent years.
The gaming-focused pub group first began its expansion into South Australia, where it now owns 13 venues, with the purchase of the Newmarket Hotel in Port Adelaide in April 2021. At the time of the acquisition, Black Rhino Group director David Tomsic identified South Australia as an ideal market for the group, explaining that his strategy was to inject capital and be able to deliver high-quality venues back to locals.
Following the group’s purchase of the St George Hotel in Queensland towards the end of 2023, the latest acquisition indicates that the group may continue its expansion into the state.