196 Mary Street, Gympie, Queensland
ICONIC HOTEL IN CENTRAL GYMPIE
$1,000,000 + GST IF APPLICABLE
Business Description
The building currently known as the Empire Hotel started life as the Newmarket Hotel and was rebuilt as the Miners Arms in 1872.
The name changed around the First World War to the current Empire Hotel, and the building has remained almost unchanged since that time.
Situated on a 607 m2 block, the hotel includes a main bar fronting Mary Street, an internal bar servicing the dining area and rear deck, and an equipped commercial kitchen. Furnished accommodation facilities include three double rooms and one single room, all set for short or long term customers with communal kitchen and bathroom facilities.
The top floor also includes living quarters for an onsite manager including a kitchen, living area, two bedrooms, office area and bathroom. There is also a parking area at the rear of the Hotel.
The Empire has not been fully functional since the February 2022 floods, with some works done to re-open the main bar area for a short time in early 2022. Renovations will be required to bring the Empire back to full operational condition.
The Empire presents an opportunity for its next owner to restore this popular Hotel to its previous operational standard, or to consider renovating to extend the accommodation or dining / entertainment facilities.
The Empire Hotel is listed for sale on a walk in / walk out basis at $1,000,000 plus GST if applicable.
We do not accept responsibility for the accuracy of any information. Interested parties should make their own enquiries in order to determine the accuracy of this information. Intending purchasers should seek legal and accounting advice before entering into any contract of sale.
Business Summary
Key Investment Insights
1. Historic building with a long-standing reputation in the community.
2. Prime location on a 607 m2 block in the heart of Gympie.
3. Multiple revenue streams including a main bar, dining area, and furnished accommodation.
4. Potential for further renovations and expansion to increase revenue.
5. Onsite living quarters for an onsite manager.
6. Opportunity for a new owner to restore the hotel to its previous operational standard.
7. Listed for sale on a walk in / walk out basis.
8. Potential for growth and development in the hospitality and tourism industry.
9. Potential for a new owner to put their own stamp on the business.
10. All interested parties should conduct their own due diligence before entering into a contract of sale.
