New South Wales based O’Hara Hotel Group has sold Parkhurst Tavern on the outskirts of Rockhampton, Queensland, just 24 months after acquiring the asset from long term owner Terry Morrow.
Purchasing the venue in 2023, the inter-state group set about making the venue more family friendly by adding a courtesy bus and focusing on old fashioned country hospitality.
Stuart Horner, O’Hara Hotel Group’s regional manager told Australian Hotelier, the group is proud of the mark they have left on the venue.
“The sale of the Parkhurst Tavern marks the end of a remarkable chapter in our journey, where we were fortunate to connect with the vibrant Rockhampton community. Through our sponsorship initiatives and unwavering support for local events, we helped foster a sense of unity and pride among residents,” said Horner.
“The Tavern has long been a place where guests could enjoy great food, refreshing beer, and memorable laughs with friends and family. As we move forward, we are proud of the legacy we’ve built and the lasting impact we’ve had on this wonderful community”.
The O’Hara Group operates numerous pubs, taverns, and hotels across Sydney and regional NSW.
The successful purchaser has been revealed as Star Hotels, a highly regarded independent pub group in Queensland, already operating a portfolio of more than 50 pubs across the Sunshine State and South Australia.
Situated immediately adjacent to the Woolworths anchored Parkhurst town centre, the Parkhurst Tavern operates as a well-rounded and full facility modern hotel offering.
Rockhampton is also becoming an increasingly popular tourist location and stopping point for those travelling to the southern end of the Great Barrier Reef and Central Queensland.
The popular local pub is situated on a 6700sqm block and is located approximately 9km from the Rockhampton CBD, operating 36 gaming authorities (approved for 42) and with a 4am gaming licence.
The sale of the pub was negotiated by HTL Property in an off-market, invitation-only sales process and was managed by Queensland director Glenn Price and national director, Andrew Jolliffe.
Price said the sale points to the continued investor interest in the state’s pub sector.
“As has been highlighted by the number of sales across Queensland in FY25; purchasers from all states are willing to deploy more and more capital into the sector, as they strategically look to capitalise on the year-on-year growth the industry continues to achieve.
This has resulted in larger regional centres, such as Rockhampton, which have enjoyed consistent population growth and multi-faceted economic drivers,” he said.
Jolliffe added: “This is the 15th significant hotel sold nationally at a consolidated basket value exceeding $500m in the past eight weeks”.
“Whilst representative of certainly elevated transaction levels when compared to corresponding time periods, what isn’t surprising is the current market depth for investors wanting access to cross-border hospitality and tourism assets of increasingly amplified levels of value,” he concluded.
Most recently, The Royal Hotel in Hughenden in north-west Queensland was sold underscoring continued investor confidence in north-west Queensland’s tourism and hospitality sectors.
This follows the sale of the Royal Hotel in Ingham, popular with locals and tourists due to its proximity to the UNESCO World Heritage-listed Great Barrier Reef, the popular Hinchinbrook Island, and Wallaman Falls, Australia’s highest single-drop waterfall.
The Commercial Hotel was recently restored by Ghanem Group, with the addition of a new craft brewery – Boonah Brewing Co.
The hotel is in Queenland’s popular Scenic Rim with the refurbishment of the historic hotel expected to be complete by late 2025, positioning it as a boutique, short-stay destination for visitors.