How much you'll pay to own iconic Byron pub
GOT a lazy hundred mill plus?
If so, you could snap up one of Byron's landmark pubs, The Beach Hotel.
Current owners, Investment Impact Group (IIG) have been persuaded by several recent unsolicited offers to put the 'Beachie' back on the market to captalise on record record-low interest environment.
IIG bought it for $70m, off businessman Max Twigg two years ago who had owned the property for around 10 years.
The sprawling 4,585sqm hotel has long been seen as the heart and soul of Byron Bay and was built in the 1990s by long-time local John Cornell fondly known as Strop and remembered as Paul Hogan's best mate.
Located smack bang on Byron's Main Beach with more than 100 metres frontage the the 'Beachie' includes 25 newly-appointed luxury boutique hotel rooms and swimming pool, a pub with extensive beer gardens, restaurant, function spaces and bottle shop.
JLL Hotels & Hospitality Group have been appointed to run the international campaign.
The business has been owned since 2007 by high-profile Melbourne restaurateurs and hospitality figures John and Lisa van Haandel: long-term residents and supporters of Byron Bay who've been coming to the town since the 1970s and shortly thereafter bought one of the original whaler's cottages at Belongil Beach.
"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.
General Manager and daughter Elke van Haandel said, "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 JLL 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.
National and international expressions of interest will be sought with the process likely to start in October and conclude in November.
Mr Musca pointed to several other major developments on the cards for Byron including the, "commencement of the long-mooted $24 million Byron Bay Bypass, the anticipated new West Byron residential and industrial estates, the recent opening of the Mercato On Byron shopping centre and Palace Cinemas, the transformation and explosive growth of the Arts & Industrial Estate and a proposed new 140-room boutique hotel on Johnson Street."
The potential sale of the Beach Hotel comes hard on the heels of the sale last month of the Byron at Byron, for a reputed $45 million to Dubai-based Syrian billionaire Ghassan Aboud. This was the first time the Byron at Byron had changed hands since it was opened in 2005 and settlement of the sale is expected by September 2019.