JLL Hotels & Hospitality Group has been exclusively appointed to sell what is widely regarded as Australia’s most iconic hotel, the Beach Hotel in Byron Bay.
After fielding a number of unsolicited approaches, Melbourne-based Impact Investment Group decided to capitalise on the record low interest rate environment and divest the hotel in conjunction with long-time Byron residents and operators the van Haandel family, with expectations of a $100 million plus sale. IIGs decision comes hot on heels of its recent opportunistic divestment of the Kingsgate Office Tower in Brisbane for $170 million.
The ‘Beachie’, as it is referred to, is considered the heart and soul of Byron Bay and has a famous background, built in the 1990s by long-time local John Cornell fondly known as Strop and remembered as Paul Hogan’s best mate. Located with over 100 metres frontage overlooking Byron’s Main Beach, the hotel spans a 4,585sqm area and includes 25 newly-appointed luxury boutique hotel rooms and swimming pool, a large and vibrant pub with extensive beer gardens, restaurant, function spaces and bottle shop.
The business has been owned since 2007 by high-profile Melbourne restauranteurs 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. The opportunity to operate the icon is now available for only the second time since it was built.
“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.
Over the past 12 years, General Manager and daughter Elke van Haandel has established an experienced team which can provide investors the comfort of a seamless business management transition. “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,” she said.
The laid-back township has seen an explosion of Hollywood celebrity, sports stars and muso pilgrimages with many becoming residents, such is Byron’s allure. From Matt Damon to Miley Cyrus, Chris Hemsworth to Margot Robbie, it has rapidly become the global “go-to” destination highlighted by its monthly music, arts and culture festivals and a burgeoning quality produce and providore marketplace environment.
The campaign will be managed by JLL’s highly-regarded National Director John Musca, supported by JLL boutique accommodation specialist Tom Gibson and Queensland Vice-President Tom Gleeson along with the full force of JLL’s capital markets and international platforms.
“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,” he said.
National and international expressions of interest will be sought with the process likely to start in October and conclude in November.
Byron Bay is experiencing a period of unprecedented growth evidenced by 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 Mercado 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.
For more information about The Beach Hotel Byron Bay for sale phone or email JLL National Director John Musca, JLL boutique accommodation specialist Tom Gibson or Queensland Vice-President Tom Gleeson via the contact details below.
Source: JLL
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