The Mayfair Ridge Tavern in Emerald has sold through Knight Frank

The leasehold of a venue in Emerald has sold to a Queensland-based organisation. 

The leasehold for the Mayfair Ridge Tavern and Motel has sold through Knight Frank. Picture: Contributed

The leasehold for an iconic venue in Emerald has sold for less than $1 million.

The leasehold for the Mayfair Ridge Tavern, located at 7-11 Mayfair Drive, settled through Knight Frank Rockhampton and Region on January 31.

Commercial sales and leasing consultant Adam Kelly said the purchaser was a Queensland based organisation.

“The buyers specialise in owning and running hospitality assets,” Mr Kelly said.

“They have multiple establishments and this one is going to contribute to growing their hospitality portfolio.

“A big congratulations to them as well as the seller.”

While the venue will continue to operate as normal, Mr Kelly said the owner “will make some changes as they see fit”.

“But it’s only going to be for the better of the establishment and ultimately the community,” he said.

The Mayfair Ridge Tavern is currently leased until November 2027, with options to 2047.

The venue boasts a drive-through bottle shop, walk-in bottle shop, large function room, large public sports bar, TAB, large kitchen and restaurant, outdoor dining and 35 active poker machines.