Established hoteliers continue to expand their portfolios with Glenn Piper heading north to the Whitsundays, Feros Group buying in Wagga Wagga, Jim Knox making more New England acquisitions, and an unnamed group adding to its portfolio in Bathurst.

The Hook Island Lodge in the Whitsundays was sold to Sydney hotelier Glenn Piper, who has acquired the leasehold in perpetuity.

It is his third acquisition in six months, following on from the acquisition of Newcastle’s Beach Hotel in Merewether and the leasehold of the Q Station Hotel on Sydney’s North Head.

Located on the south-eastern side of the uninhabited Hook Island, the 9.3ha site has two private beaches, more than 1km of water frontage and sweeping views of Hook Passage and the Great Barrier Reef.

While the price was confidential, market guidance was for between $10m and $12m, according to CBRE, with its hotels director Tom Gibson managing the sale.

“The Whitsundays is one of the most naturally stunning and diverse tourism destinations in the world and we are thrilled to secure a landmark position in the heart of it on Hook Island,” Piper said.

“There’s nothing quite like it. Very few locations in the world can offer this level of natural wonder. I want to create an experience that befits the beauty of the island and the Whitsundays – respectfully and sustainably. I’m energised at the thought of creating a world class hospitality experience for this slice of paradise.”

The Alpine Inn, Khancoban

In another tourism play, the Alpine Inn, Khancoban, which is located near to the Kosciuszko National Park in NSW, has changed hands after 19 years.

In a sale managed by JLL Hotels & Hospitality Group, the venue was sold on behalf of Snowy Mountains local Ignazio Mondello after 19 years of ownership.

The venue was purchased by a Sydney-based food and beverage hotelier with a growing hospitality portfolio who has aspirations to conduct an extensive renovation on the pub and motel rooms.

The venue is currently tenanted with a month-to-month rolling lease, and the sale included eight gaming machine entitlements, a 36-room motel, residential house and associated pub infrastructure and is situated on around four acres of land.

“The Alpine Inn demonstrates sound investment fundamentals comprising a mix of gaming, accommodation and genuine operational upside,” said JLL Hotels executive Greg Jeloudev who facilitated the on-market transaction.

“Inimitable locational drivers such as the Snowy Scheme and the undoubtably picturesque scenery ensure the Alpine Inn will have a strong following for decades to come.”

The Alpine Inn, Khancoban.

The Imperial Hotel, Inverell

In a two-pub deal, hotelier Jim Knox has acquired the Imperial Hotel Inverell and the freehold interest in the Royal Hotel in Tingha nearby.

The deal, facilitated by Xavier Plunkett of HTL Property, sees Knox build on his already numerous holdings within the wider New England region.

“The purchaser was attracted to the strong local economy, the highly favourable competitive environment with only three licenced hotels operating for circa 12,000 people, and the proximity to its existing portfolio assets,” Plunkett said.

The Imperial Hotel, Inverell.

Jack Duggan’s, Bathurst, NSW

Jack Duggan’s Irish pub, a Bathurst institution, has been bought by a regional-based hotel group who intend to lease the property following some minor interior works.

The pub’s period-style two-storey façade leads to a lively front bar, large bistro and commercial kitchen. Upstairs, 10 accommodation rooms sleep up to 34 people.

The deal was brokered by Leonard Bongiovanni at MQ & Associates, who said: “Jack Duggan’s is a popular and well-run Irish pub that’s won countless awards over the past decade for its great food, drinks and hospitality.

“It promises to be an attractive entry-level leasehold opportunity for a new entrant or existing operator. The venue has a proven track record while offering huge growth potential, supported by Bathurst’s strong year-round visitor numbers.

“The proposed $70 million Bathurst Integrated Medical Centre development on the same block will also drive increased trade during construction and once the centre is complete.”

Jack Duggan’s in Bathurst

Beachfront Hotel, Darwin, NT

National operator Endeavour Group has bought Darwin’s Beachfront Hotel off long term owner Doug Sallis. The large format hotel has views of Nightcliff Beach and is located within close proximity to the Darwin City CBD.

The Red Steer, Wagga Wagga

The Red Steer Hotel and Motel at Wagga Wagga, NSW has been bought by Sydney operator Feros Group for under $10 million – the latest in an extended run of pub deals in the NSW Riverina hub town.

Beauford Hotel, Newcastle

Situated in the suburb of Mayfield in Newcastle, NSW, the corner pub, The Beauford Hotel, was sold by the local Kearney family after 30 years of ownership following an off-market sale process.

Belmore Hotel, Scone

The Belmore Hotel in Scone in the NSW Hunter region has been acquired by hotelier Rod ‘Ned Kelly’ of Kelly Hotels off the Brownlee family. Kelly also owns the Royal Hotel in Scone and has made a run of regional acquisitions over the past 12 months.

Kelso Hotel, Bathurst

A syndicate led by hotelier Ashton Waugh has acquired on the Kelso Hotel in the NSW regional town of Bathurst off hotelier Liam O’Hara, adding to his portfolio in the Central West town.

Leave a comment

Your email address will not be published. Required fields are marked *