The freehold interest in Spring Hill Terraces Motel & Apartments has been snapped up, highlighting the suburb’s recent accommodation market prosperity.
CBRE Hotels’ Associate Director Hayley Manvell steered the off-market transaction on behalf of the locally based owners.
The three-star motel will continue to be operated under a long-term lease agreement.
Located approximately 1.5km from Brisbane’s CBD, the property is situated on a large 1,672sqm freehold land parcel and comprises 29 accommodation rooms, swimming pool and guest parking.
With the 2032 Brisbane Olympic Games and both the Men and Women’s Rugby World Cups swiftly approaching, sentiment in Brisbane’s accommodation market is seeing sustained robust growth.