Imperial Hotel site fails to sell but owner resolute
THE owner of the Imperial Hotel site may travel back to his home country to sell property to fund his backpackers' accommodation plan after the land failed to sell at auction.
Gatton Real Estate principal Rhonda McLucas said the property went to auction, but there were no registered bidders in attendance on the day.
"We had some interest and inquiries prior to auction but unfortunately it did not sell," Ms McLucas said.
Fire destroyed the historic Imperial Hotel on November 5, 2015.
Owner Eskander Alokaily said the now-vacant block of land was on the market for $1,300,000, which also included a liquor licence, but also said if the lot did not sell in the coming months, he would travel to Iraq to sell a building there to revive the project.
"If no one buys it I will go back to my home country and sell a building I have there and build a backpackers on the site," Mr Alokaily said.
He said the project would consist of 68 rooms, a café and restaurant, as well as a swimming pool.
The block is 1882sq m with prime frontage on Railway St and must be used for commercial purposes.