The iconic Criterion Hotel in Warwick, in south-east Queensland is being offered for sale through Power Jeffrey & Co's Andy Nason.
Located at 84 Palmerin Street the offering includes the grand two-storey hotel along with a leased detached bottle shop situated across the road plus a freehold detached bottle shop, a house and separate vacant site.
The historic hotel complex was originally designed by Dornbusch and Connolly and constructed circa 1917. It was added to the Queensland Heritage Register in 1992.
The hotel includes a public bar, bistro with capacity for 60, gaming room with 35 machines, two function rooms plus accommodation consisting a fully self-contained apartment, suite and 23 hotel rooms. The ground floor function room has seating for up to 100 people while the first-floor room provides seating for up to 80 patrons.
The hotel possesses period features such as original fireplaces and décor plus amenities including a commercial kitchen which services the lounge bar, bistro and function rooms. The function rooms are ideal for corporate use and weddings while the hotel itself is punctuated with configurations of table and captain's chairs. The machines in the gaming room have also been recently upgraded while the public bar area features pool tables.
HOTEL FEATURES
Public Bar
Lounge Bar/Bistro
Gaming Room 35 Gaming Machines
Commercial Kitchen
Function Room Allman Room seating 80 to 100
Function Room First Floor Room seating 70 to 80
Accommodation 1 Apartment, 1 suite and 23 hotel rooms with shared facilities
Beer Garden Area / Functions
Hotel Tenancy First National Real Estate ($30,480 plus GST rent per year)
Detached Bottle Shop Woolworths Centre (Leased)
Detached Bottle Shop 108 Wood Street Warwick (Freehold) with added Cignall tenancy ($30,300 incl GST rent per year)
Vacant Land 14 Wallace Street
House and Land 16 Wallace Street
Mr Nason said the Criterion Hotel is a prominent heritage-listed brick building in Warwick and an established and successful venue with a regular income streams from all areas.
"The offering also providing a retail tenancy occupied by First National Real Estate which faces the main street and generates $30,480 of income per year.
"Included in the package is a freehold detached bottle shop, along with a Cignall tobacconist that returns a rental of $30,300 per annum, both of which are positioned at 108 Wood Street.
Additional to the hotel and shop is a parcel of vacant land and a house on its own title at 14 and 16 Wallace Street. Both sites have an area of about 1,012 square metres with the house offering four bedrooms plus additional income of approximately $300 per week.
Warwick is situated approximately 160 kilometres south-west of Brisbane on the Cunningham Highway, Warwick has a town population of approximately 13,000 and total shire population of approximately 21,000.
The city is situated at the junction of the Cunningham and New England Highways, providing a diverse and stable shopping and business infrastructure for the surrounding rural areas.
The city has derived substantial economic benefit from the Woolworths Freight Terminal installation, which services southern Queensland and northern NSW and the Morgan Park multi use sporting and entertainment facility which attracts local, interstate and international visitors.
Popular annual events include Polo, Rodeo, and Jumpers and Jazz.
PROPERTY DESCRIPTION:
Hotel (Freehold) : Lot 1-2 BUP 102967, Parish Warwick Area 2,084 sqm
DBS & Shop (Freehold) : Lot 1 W30103, Parish Warwick Area 1,103sqm
Vacant Land : Lot 1 RP64401, Parish Warwick Area 1,012sqm
House & Land : Lot 2 RP64401, Parish Warwick Area 1,012sqm
