After a period of closure and impressive reinvestment, the historic Newmarket Hotel, Townsville is now on the market.
Richard Mraz purchased the hotel in 2017 with a view to returning the hotel to its former glory, and while food and bar services are yet to recommence trading, the 9.2/10 reviews for the accommodation tell you that he has hit the mark.
The original Newmarket Hotel was built in 1872 and with expansion out from the city centre, it became one of the leading establishments in Townsville. The present building was erected in 1932 in the style of earlier hotels with wide verandahs shading the street.
The hotel occupies an 885sqm corner site and incorporates an attractive dining area, four bars, 15 accommodation rooms and a manager’s residence, as well as an underutilised space which could be used to house up to 15 gaming machines.
With the high desirability of regional Queensland hotels at present, this centrally located hotel in the booming city of Townsville is set to garner a lot of interest.
“Richard has spent around $1 million improving the property whilst retaining its beautiful original features. His eye for detail really comes through – from the stylish manager’s residence to the high quality bathroom finishes, right down to installing external mood lighting controlled by his phone!”, said Mark Walsh, JLL Pubs Vice President.
Situated within a short walk to the CBD, the Newmarket Hotel is one of the closest hotels to the new Townsville Stadium located just across the river and will no doubt benefit from the anticipated 30 annual events to be held at this multi-purpose venue.
Substantial investment into the local community such as the Reef HQ Aquarium Refurbishment ($40 million), the Townsville Port Expansion ($193 million) and the new $60.5 million Weststate Private Hospital development, are all indicators of a strong long-term economy.