Irvin buys Sarina Hotel

Sydney-based Paul Irvin Hotel Group acquired the Sarina Hotel from the Scott family in a deal believed to be worth close to $7 million.

The acquisition of the freehold pub, south of Mackay and the bulk coal terminals at Hay Point, increases the group's Queensland hotel assets to six properties.

Peter Power, from Brisbane-based hotel broker Power Jeffrey & Co, who negotiated the Sarina Hotel deal, said location and its profitability were key drawcards.

The hotel sits on a 1804m² site with frontage to the Bruce Highway and comprises a double-storey hotel building and adjoining former bank, which houses its gaming room.

Source: AccomNews, 11 February 2013