FOR SALE: CBRE Hotels has started an expressions of interest campaign for the sale of Rydges Gladstone.
FOR SALE: CBRE Hotels has started an expressions of interest campaign for the sale of Rydges Gladstone. CBRE Hotels

Long-time Australian company selling Rydges Gladstone

A "luxurious" hotel with 95 rooms in the middle of the Gladstone's CBD is on the market.

An expressions of interest campaign has opened for the sale of Rydges Gladstone by CBRE Hotels.

Former owner Event Hospitality and Entertainment Limited placed the hotel on the market, along with Rydges Port Douglas.

National director of CBRE Hotels, Wayne Bunz, said the EOI campaign would close on June 28.

"I think it's a very good counter- cyclical buying opportunity in Gladstone," he said.

Event Hospitality and Entertainment, is a more than 100-year-old Australian business, with its main brands considered to be Event Cinemas, Rydges Hotels and QT Hotels and resorts.

The four star hotel with a pool, which is selling with separate apartment building Capricorn Apartments, is one of at least five hotels in the region on the market.

It was announced last month Toolooa Gardens was for sale via expressions of interest, after it was put in the hands of receivers FTI Consulting.

Expressions of interest for the Toolooa St motel close today at 2pm.

The Palm Valley Motel at Tannum Sands on Beach Ave is also on the market for $1.7 million.

The motel has been advertised as an opportunity for a buyer to continue running it as a bed and breakfast or sell the 20 units off separately.

Also on the market by expressions of interest is 166 Auckland St, Central Studio Accommodation.

LJ Hooker commercial agent Keir Kreis said the owners, who originally built the motel, were looking to retire.

Mr Kreis is also selling Amber Lodge Motel on Toolooa St for offers of more than $1 million, with the owners keen to focus on their engineering business in the Gladstone region.

For more property news pick up Saturday's Observer for the Real Estate Guide.