Star Group buys Rydges Mackay Suites in central Queensland expansion strategy

Queensland’s largest independently owned and operated pub and liquor retail group has added a regional venue to its expanding portfolio with the purchase of a regional hotel.

Rydges Mackay Suites on Gregory St in the central Queensland city.

Queensland’s largest independently owned and operated pub and liquor retail group has added another accommodation venue to its expanding portfolio with the purchase of a regional hotel.

Star Group has doubled down on its Queensland expansion strategy by acquiring Rydges Mackay Suites and the Mackay Central Retail Centre on Gregory St in the central Queensland city.

The purchase, which is believed to be around $30m, follows the group’s $60m settlement of the acquisition of Rydges Gold Coast Airport.

Headed by Steven Shoobridge, Star’s portfolio now comprises 51 licensed venues, over 115 retail liquor outlets, and eight accommodation venues across Queensland.

The Mackay property was sold by CBRE Hotels national director Wayne Bunz on behalf of Richard Pegum and Geordie Clark who purchased when it was the Mackay Grande Suites in 2018.

Star Group CEO Steven Shoobridge.

Mr Bunz said the purchase ‘ticked the boxes” for the Star Group.

“The acquisition represents a strategic addition to Star Group’s expanding portfolio, blending the appeal of a flagship hotel with a dynamic pub operation and strong-performing retail space,” he said.

“The off-market transaction further underscores the demand for diversified and well-located assets in flourishing regional markets.”

Rydges Mackay Suites offers 90 well-appointed rooms, two bars, a contemporary restaurant with footpath dining, and a dedicated gaming room featuring 35 electronic gaming machines.

The hotel also features an indoor swimming pool, gymnasium, and three versatile conference and meeting spaces, appealing to both business and leisure guests.

The adjoining Mackay Central Retail Centre offers 800 sqm of lettable area and is currently leased to four tenants, providing a solid and diversified income stream.

Mr Bunz said the retail component enhanced the overall value of the asset, complementing the hospitality offerings with a mix of tenants.

“Both properties enjoy an advantageous location in Mackay’s CBD, offering excellent visibility and accessibility with high vehicular and pedestrian traffic, he said.

“Given they are within one of the city’s most active precincts, the assets are poised to benefit from the region’s robust growth, fuelled by over $14bn in ongoing government infrastructure projects.”