Big hope for hotel sale

THE Grafton Hotel at Edmonton has been listed for sale amid “bullish” market conditions for freehold investment hotels. Currently leased to Wesfarmers subsidiary Liquorland, the southside watering hole is owned by the ASX-listed Hotel Property Investments. CBRE will oversee the sales campaign, which closes on April 26. “The freehold hotel market has become a national marketplace in the past seven years with many investors from the southern states and from the west purchasing assets in Queensland,” said CBRE Queensland director Paul Fraser.