Pub landlord to offload another major venue on the Sunshine Coast
A pub landlord is offloading a popular venue in one of the nation’s hottest property markets, and with a major hotelier already in place, the investor may not even need the luck of the Irish to make a big sale.
O’Malley’s Irish Pub has hit the market and is currently leased to Australian Leisure and Hospitality Group (ALH), which is wholly owned by Endeavour Group, which in turn is majority owned by Woolworths.
The pub is owned by a private investor.
It is not the only ALH-backed pub that has hit the market in recent weeks.
ASX-listed ALE Property Group recently sold three of its Queensland venues at auction – Pelican Waters Tavern on the Sunshine Coast, and Kedron Park Hotel and Edinburgh Castle Hotel in Brisbane.
All three currently have long leases with ALH.
Combined, the sales of the three venues totalled $22.9 million, with the Pelican Waters Tavern selling for $10.8 million, the Edinburgh Castle Hotel for $7.5 million and the Kedron Park Hotel for $4.6 million.
All three sold to Queensland investors, with another hotel in Victoria also selling for $3.06 million to a Queenslander.
The listing for O’Malley’s says the tavern licence also provides three detached bottle shops which are “critical” to Endeavour Group’s retail liquor network across the Sunshine Coast, according to the listing.
Those bottle shops are located at Maroochydore, Buderim and Wurtulla.
Located in the Mantra complex, the tavern is also set to benefit from the Mooloolaba Foreshore Redevelopment project, which includes a proposed tidal pool and adventure park and improved pedestrian linkages between the Mooloolaba Beach and the retail/hospitality precinct.
The pub also has a 3am liquor licence and is being marketed by Burgess Rawson agent Matthew Wright.