Here’s cheers for pub on the market
The asset also includes a detached bottle shop at Nerang Fair Shopping Centre in Nerang.
Nerang RSL bought the hotel/motel in 2005 for $2.35 million from Tom Pettiona, a veteran racing industry identity who owned 1981 Melbourne Cup winner Just A Dash.
Mr Pettiona, whose bigmoney punting forays earned him a legendary reputation, for some time also held interests in the city’s bus and coach industry.
He owned the Advancetown hotel property for 27 years, originally buying it for $490,000 in 1978.
Mr Power said Nerang RSL had decided to cut its ties with the Advancetown property as it prepares to undertake the next stage of a major redevelopment of the club.
The hotel does not come with any gaming machines.