Freehold going concern of the Stradbroke Island Beach Hotel sold by JLL Hotels
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Freehold going concern of the Stradbroke Island Beach Hotel sold by JLL Hotels
Stradbroke Island Beach Hotel sold by Tom Gleeson, Senior Vice President of JLL Hotels, to a partnership between The Good Time Group Holdings and Anthony Moreton Group. Ben Walsh, CEO The Good Time Group said “The Stradbroke Hotel acquisition was a once in a lifetime opportunity.
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Freehold going concern of the Stradbroke Island Beach Hotel sold by JLL Hotels -
Freehold going concern of the Stradbroke Island Beach Hotel sold by JLL Hotels -
Freehold going concern of the Stradbroke Island Beach Hotel sold by JLL Hotels
JLL Hotels announced the sale of the freehold going concern of the Stradbroke Island Beach Hotel on behalf of developer and investor Bob Hill after 26 years at the helm.
A truly unique rarity of a hotel situated overlooking the breath-taking Cylinder Beach, the hotel is positioned on a large, 3,267 sqm lot. It comprises of a main bar, bistro, beer garden, gaming room with 15 EGM’s, function room, drive through and 1 detached bottle shop, 15 hotel rooms as well as caretaking and letting rights for the luxury apartment complex sitting adjacent to the hotel.
The pub is the only hotel on North Stradbroke Island which attracts circa 400,000 visitors per year, making this sale one of the hotel transactions of the decade.
The incoming purchaser is emerging boutique hospitality group, The Good Time Group Holdings with Anthony Moreton Group who have forged a strategic partnership.
The partnership is developing a growth plan around multiple key acquisitions of unique hotels in areas that the Group will develop into models showcasing their premium signature boutique design and hospitality offerings.
Founder and CEO of The Good Time Group Holdings is well known hospitality figure Ben Walsh. Ben is known for his creation and previous operation of the Goldfish Sydney and Hunter Valley brands, Miss Moneypenny’s Noosa and his most recent development in Broadbeach on the Gold Coast, a ‘mini precinct’ at the Beach Hotel site, which was owned and redeveloped by Anthony Moreton Group. In 2019 Walsh opened the highly acclaimed hatted restaurant, Miss Moneypenny’s Broadbeach, a function and events space named The Rimini Room, alongside the uber cool American sports bar, Fat Freddy’s Beach Bar and Diner which is attached to a luxury gaming lounge with 38 EGM’s.
On the group's new acquisition Walsh said “This is a very exciting time for our organisation and the future of its growth. The Stradbroke Hotel acquisition was a once in a lifetime opportunity. Not many people can say they own the only pub on an island, in particular on an island that experiences extremely high tourist traffic volumes and realises continuous growth”.
Walsh said that the group plans to invest circa $5 million into a full venue renovation in due course with the goal of turning this famous pub into a must-see attraction for guests visiting from Queensland, interstate and overseas.
”The uninterrupted, unparalleled ocean views are the perfect backdrop to what will be a spectacular world class venue offering a genuine high-level quality of food, beverage, accommodation and service standards that will, in turn gain recognition on the global tourism stage as a must see attraction when visiting Queensland, whilst at the same time complimenting the local community with a new cultural dining and drinking experience whilst engaging with and offering support to local sporting and community programmes”.
Tom Gleeson, Senior Vice President of JLL Hotels, who handled the transaction revealed, “The natural beauty of Stradbroke Island is obvious and rarely does a hotel evoke a visceral reaction, however, behind this was a robust and diverse business model with a captive market at the ready. JLL congratulates the Hill’s on an incredible tenure at the hotel and welcome The Good Time Group Holdings and Anthony Moreton Group as new custodians.”
The Stradbroke Island Beach Hotel sale is reflective of the pent-up demand for quality and scalable hospitality assets within the Southeast corridor following the recent sale of the Lord Stanley Hotel, East Brisbane.
To request a sales analysis please contact the selling agent Tom Gleeson, Senior Vice President of JLL Hotels, via the below contact details.
Related Reading:
HPI & AVC exit the Lord Stanley sold off market by JLL | The Hotel Conversation
4 Star Bunbury Hotel for sale by CBRE | The Hotel Conversation
Ben Walsh – CEO The Good Time Group
