Country pub sold for $1.75 million
A PUB on the Brisbane Valley Highway has sold for $1.75 million, with its new owner eager to drive the business' upward trajectory.
The Fernvale Hotel Motel was sold by Lindsay Cooper and Nathan Eades of ResortBrokers on behalf of Ed and Brenda Krop.
Under the ownership of the Krops, who are looking forward to travelling in their retirement, turnover has increased year on year.
"We'll definitely miss our amazing staff and customers," Mr Krop said.
"We wish the new owners all the best and we know they'll do really well."
The country hotel is complete with a pub, 100-seat bistro style restaurant and eight motel rooms with approval for a further eight more units.
It also has a drive-in bottle shop, a large outdoor dining area and a detached bottle shop with a 10-year lease within the Fernvale Shopping Centre.
New owner Huong Luong said her family had already been warmly welcomed by the Fernvale community.
"It was an already successful business in a genuinely up and coming area so I have no doubt the Fernvale Hotel Motel will go from strength to strength," she said.
"We're really looking forward to getting down to work and getting to know everyone."
Mr Cooper said the new operators would benefit from Fernvale's expected population growth.
"Fernvale is a rapidly developing rural township and, with new developments such as a shopping centre to the right of the pub and a new manufactured housing estate to the north of it, the area is set to experience an influx of both workers and new residents," he said.