One of Australia’s most iconic pub properties, the Beach Hotel in Byron Bay, has been placed on the market, and is expected to field offers of $100+ million.
Owners of the freehold, Investment Impact Group (IIG), decided to take advantage of the record-low interest environment and place the property on the market after receiving several unsolicited offers. IIG had purchased the freehold two years ago for $70m, off businessman Max Twigg who had owned the property for almost a decade. JLL Hotels & Hospitality Group have been appointed to run the international campaign.
The Beach Hotel sits on a 4585 sqm parcel of land, with over 100m frontage overlooking Byron’s Main Beach. The hotel offering includes extensive beer gardens, a restaurant, function spaces, bottle shop, 25 newly-appointed luxury boutique hotel rooms and a swimming pool.
Long-time operators of the leasehold, John and Lisa van Haandel, know that owning such a nationally renowned hotel is an opportunity that rarely presents itself.
“There’s no place on earth like Byron Bay and we’ve been privileged enough to own one of the very best businesses in this spiritual, eclectic and internationally recognised township for over 10 years,” John van Haandel said.
Elke van Haandel, the couple’s daughter and general manager of the hotel, has established an experienced team that can provide investors with the comfort of a seamless business management transition, and is looking forward to working with the new freehold owners.
“We’re local, we love Byron Bay, we support the community and we’re excited to bring our vision for the evolution of the Beachie to new owners, with so much scope for business growth.”
The campaign will be managed by JLL’s national director John Musca, supported by boutique accommodation specialist Tom Gibson and Queensland vice-president Tom Gleeson.
“This is a magical asset like no other nationally or around the world, offering irreplaceable, uniquely Australian licensing and trading approvals, sought-after operating scale and an aspirational lifestyle location that you can safely say can never ever be replicated,” Musca said.
“Whether you’ve made your millions in mining, software, property or another asset class, there simply cannot be a better way to create a legacy, have a place for your family and friends and make a generational imprint, than by owning the Beach Hotel.”
Byron Bay is currently experiencing a period of major growth, with the beginning of construction on the $24m Byron Bay Bypass, new residential and industrial estates in the works and the recent opening of a new shopping centre and cinema complex.
National and international expressions of interest will be sought, with the process likely to start in October and conclude in November.