Saleyards Hotel sells for bargain price

The property has been vacant for the past year and was sold with the attached six-unit motel and freehold rum distillery.

Saleyards Hotel at 52 Gladstone Road, Allenstown

The Saleyards Hotel on Gladstone Road has sold and for a bargain price at that.

The hotel, which includes a freehold rum distillery, six-unit motel, indoor beer garden and restaurant, was first put on the market in February 2020 for $615,000.

The price was lowered to $450,000 in May 2020.

The property sold for a final price of $400,000 in April 2021 by Mark Molloy of Professionals Livingston and Molloy Real Estate.

The property has dramatically decreased in value over the past 15 years.

It previously sold for $429,000 in 2016, $920,000 in 2013 and for a whopping $1.5 million in 2006.

Catie and Warren Brewer took over the business in 2016 and set up the distillery.

Gin and rum distilled at the venue went on to win international accolades.

Inside the restaurant area at the Saleyards Hotel.

The pair put the property on the market last year as they had outgrown the space and have since moved to the Sunshine Coast where they continue to distil spirits.

The Saleyards Hotel was built in the 1880s and was rebuilt in the 1930s after a fire destroyed the original venue.

Over the years the hotel has been home to popular mexican restaurant, The Crooked Cactus, before the property owners went into liquidation in 2013 and were forced to sell.

The restaurant owners moved on and later opened Project Mex.

In 2019, The Ranch Bar and Grill had a restaurant there before it was closed in May 2020 due to COVID-19.

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Originally published as Saleyards Hotel sells for bargain price