Charter Hall picks up Mackay's Austral Hotel for $25m

Funds management company Charter Hall is set to acquire Austral Hotel in Mackay for about $25 million, making the previous owner a tidy $6 million in profit.

The deal includes the pub and a Dan Murphy's liquor barn on almost half a hectare of land on Victoria Street in the centre of Mackay.

It was sold by Gold Coast investor Lotana Property, led by Brisbane developer Alex Jacques, the owner of Aludra Development. Jacques paid $19 million for the Austral Hotel in 2013.

The hotel is operated by Woolworths-backed ALH Group, while Woolworths also owns the Dan Murphy's liquor store chain.

7^th February 2019