Far North Queensland hospitality icon, Gilligan’s, hits the market via an international EOI sale process lead by renowned brokerage agencies HTL and JLL.

Situated at the gateway to Australia's famous Barrier Reef and across an enormous 10,500sqm double fronted CBD site,  the multi-level and multi-revenue stream mainstay of the Cairns tourism and hospitality market, is offered as a freehold  going concern for the first time.

"We've seen Cairns region grow and really mature as an international tourism destination over the course of our tenure,  and whilst we've taken the view that now is an appropriate time for us to let another party enjoy the benefits of the next stage of the life of this extraordinary investment, we are convinced that both Gilligan's and Far North Queensland's best  days lay ahead" commented Simon Larcombe, Gilligan's Director and part owner.

“Gilligan’s is an icon known around the world, but in addition to its noteworthy brand equity value, is the critical investment  criteria it enjoys; that being its immense revenue scale, income risk hedge, and the tangible profit maximisation  opportunities which so clearly exist" advised JLL Hotels Director, Tom Gleeson.

"This asset could be blended into an existing portfolio or acquired as a seed or foundation asset for new entrants into the  region, and as such we expect interest levels to be heightened" Gleeson added.

Comprising an imposing 705 bed accommodation offering, 40 valuable gaming entitlements, one of Australia’s longest  running and popular outdoor markets and annual revenues in excess of $35m, the multifaceted investment opportunity is  wholly unique.

“The patently irreplaceable nature of the sheer scale and quality of this market leading tourism and hospitality asset, is both  remarkable and highly sought after by astute investors internationally" commented HTL Property Managing Director,  Andrew Jolliffe.

“Gilligan’s is the prototype for precinct activation, with several highly profitable business units housed within the one  location and all speaking to a target market which transcends national and international borders” Jolliffe concluded.

Owned by the same operating group for in excess of 16 years, the sale process for Gilligan’s seeks first round offers to  purchase by Wednesday 9 October, 2024.

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