Kingscliff Beach Hotel bets on a $100m sale
A popular beach hotel about a 45-minute drive from Byron Bay and the Gold Coast has gone up for sale with an expected price tag of $100m.
The Kingscliff Beach Hotel, a mainstay of Kingscliff which has a population of about 8000, is expected to fetch a hefty sum for its 60m beachfront location and several internal hospitality offerings.
The sale of the venue arrives as pubs and hotels around the nation have soared in price on the back of a post-pandemic boom.
Earlier in August, popular lower north shore outfit The Oaks Hotel in Sydney’s Neutral Bay went up for sale with a price tag of $175m, in what would make a national record. Last week the Campion family sold the well-known Longueville Hotel in the same area for about $50m.
About 233km north, the Imperial Hotel and its adjoining eco-friendly hotel HOLA in Eumundi, near Noosa, have also landed on the market with $20m price tag.
The Kingscliff Hotel and the 3824sqm parcel of land it sits on is expected to draw fierce competition as the town became a popular destination for sea changers from Sydney and Melbourne during the pandemic.
Sydney-based Taphouse Group, who run the revenue, have reportedly fielded a number of unsolicited offers for the pub prior to the listing.
HTL Asia pacific director Andrew Jolliffe said the Kingscliff Beach Hotel was one of northern NSW’s most iconic venues and would attract fierce competition for the rights to ownership.
“As far as Australia’s whole East Coast is concerned, this is arguably the very last example of a truly large format AAA grade beachside hotel available to be purchased,” he said.
“In terms of iconic coastal properties and genuinely once in a lifetime opportunities, the Kingscliff Beach Hotel really does enjoy national prominence and comparable association with the likes of the Beach Hotel at Byron Bay, Brunswick Heads Hotel, Manly’s Hotel Steyne and both Coogee’s Pavilion and Coogee Bay Hotels respectively,” he said.
National director Dan Dragicevich said the hospitality listing was the most prolific to date for HTL.
“This is a truly magical asset like no other, offering irreplaceable and uniquely Australian licensing and trading approvals, sought-after operating scale and an aspirational lifestyle location that you can comfortably suggest will never ever be replicated,” he said.
Mr Jolliffe said the pub generated about $20m in annual revenue across its several bars, outdoor beer garden, restaurants, gaming, wagering and retail liquor offering. Its location and and B4 mixed-use zoning rules provided big potential for further development, he said.
This article was first published on www.theaustralian.com.au.