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$1 Swan Song for Ugly Duckling Hotel

Lloyds Auctions

Key Facts:

• Seven-storey Rockhampton Plaza Hotel with 66 guest rooms to be sold via court-mandated auction through Lloyds Auctions
• Property occupies prime George Street location in Rockhampton CBD and offers multiple redevelopment possibilities
• Currently non-operational property will be sold 'as is, where is' with $1 opening bid to encourage competition
• Court-ordered sale ensures transparent transaction process with interest expected from developers and investors
• Online auction closes from 11:00am on 21 May, open to domestic and international buyers

A large, high profile hotel property in the Rockhampton CBD is set to go to auction through Lloyds Auctions, offering buyers a rare opportunity to acquire a substantial redevelopment asset in one of Central Queensland’s key regional centres.

The Rockhampton Plaza Hotel, a seven-level building comprising approximately 66 guest rooms, will be sold by Lloyds Auctions following a court mandated sale process. The property has not traded for several years and will be offered strictly on an as is, where is basis.

Occupying a prominent position on George Street, the site represents a significant landholding within the city centre, surrounded by established commercial activity and essential infrastructure. The scale of the building and its central location present multiple future use possibilities, subject to relevant approvals, including refurbishment, redevelopment or adaptive reuse.

The court ordered nature of the sale ensures a transparent transaction, with the property being brought to market to determine its true value through open competition. Interest is expected from developers, investors and experienced buyers seeking value add projects in regional Queensland.

Lloyds Auctions will offer the asset with a $1 opening bid, a strategy designed to encourage broad market participation and competitive bidding.

“Opportunities of this size and profile in Rockhampton’s CBD are exceptionally rare,” said Mr Lee Hames, Chief Operations Officer of Lloyds Auctions. “This auction gives buyers the chance to secure a landmark site and reposition it for the next stage of the city’s growth.”

“With increasing interest in regional markets and long-term infrastructure investment across Queensland, this property offers buyers a chance to take on a substantial project in a central location,” he said.

The online auction is now open for bidding and will close from 11:00am on May 21, allowing buyers from across Australia and overseas to participate.

About us:

Lloyds Auctions is one of Australia’s leading and trusted auctioneering and valuation companies, operating for more than 20 years. Lloyds offers a wide range of auctions across commercial and residential real estate, vehicles, machinery, fine art, jewellery, antiques and more.

Contact details:

Public Relations

Kirstie Minifie

Lloyds Auctions
0458 240 469
[email protected]