Kelly & Co has sold the Coffs Coast pub, Corindi Beach Hotel, to local operators North Coast Hotel Group.

Originally known as the Amble Inn, the rebranded Corindi Beach Hotel sits on a sizeable 16,120sqm site located 30 minutes north of Coffs Harbour. The pub was sold by Rodney ‘Ned’ Kelly and business partner Corey Dunn after 18 months of ownership, citing a change in investment priorities. Kate MacDonald, Ben McDonald and Greg Jeloudev of JLL guided the sale.

The hotel has not undergone a significant renovation since its construction in the 1980s, presenting a lot of upside for incoming owners North Coast Hotel Group. A recent temporary gaming room relocation, to include a smoking solution, has resulted in increased turnover of approximately 45 per cent year-on-year, leading it to become one of the strongest hotels with 12 GMEs in NSW. There is also approval for an additional 8 GMEs.

Corindi Beach Hotel generates over $100,000 per week from bar, food, gaming and a popular drive-through bottle shop – the only retail liquor offering for 10km. Under Kelly & Co’s leadership, the operation has seen material improvement in trade, despite renovations and expansion options still in the planning phase.

Prior to the sale, MacDonald noted just how much potential the asset held for a new owner.

“Corindi Beach Hotel is a genuine sleeping giant for coastal hospitality. This sale presents an opportunity to capitalise on genuine enhancement strategies including an approved gaming threshold increase to 20 GMEs, a modern renovation to the building interior, and the potential to build-up to 40 holiday ‘villas’ which combined, is set to transform Corindi Beach Hotel into a coastal super pub.”

With forecast residential growth of 25,000 people over the next 20 years, and the Coffs Harbour bypass commencing construction this year coupled with ongoing infrastructure development, the region continues to gain momentum not only as a top tourist destination, but as a first-choice residential location as well.  

As operators of pubs in and around Coffs Harbour, including Hoey Moey and Moonee Tavern, North Coast Hotel Group are “absolutely delighted” to add Corindi Beach Hotel to their local portfolio.

Vanessa Cavasinni

Vanessa Cavasinni is the managing editor of Australian Hotelier and Club Management, trade publications for the pub and club sectors respectively. Vanessa has been at the helm of Australian Hotelier since...

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