One of Hamilton’s landmarks, Hamilton Motor Inn, has been sold for the first time in 30 years, having been bought from its original owners for roughly $6 million.
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JLL Metropolitan Sales & Investments, which handles the sale of the 22-room property, revealed the five-week bidding had been hotly contested.
The listing has received a total of 11 bids, which is a mix of buyer groups that include private investors, accommodation operators, and developers looking to reposition the asset.
However, a business registered to two directors of Eagle Farm-based Epoca Constructions topped all the competitive bidders.
The privately owned company has more than 50 years experience in Civil Engineering construction and has a diversified client base. Some of their projects include the Wakerly District Sports Park, the Moggill District Sports Complex, and Gladstone Dozer Bridge.
The iconic hotel, sold in March 2022, was considered as one of the major players during the early tourism boom in Brisbane. The five-level riverfront property is a long-time flagship of the inner north, as it boasts uninterrupted views of the river and the skyline.
It features function space and restaurant, rear courtyard, rooftop terrace, generous on-grade parking, and a caretaker’s unit.
In relation to the sale of Hamilton Motor Inn, Gareth Closter, Senior Vice President at JLL Hotels & Hospitality Group, believes the Queensland accommodation market is coming back.
Many investors these days take part in the emerging trend in real estate, wherein they acquire multiple hotels and motels, and create their own brands rather than putting in hotel management agreements.
JLL believes the location of the property, along with the opportunity to reposition and add value to it were some of the key drivers for enquiry during the Expressions of Interest campaign.
