A partnership of Ben Walsh’s Good Time Group Holdings with the Anthony Moreton Group has purchased the idyllic Stradbroke Island Beach Hotel from long-time owner Bob Hill.
The Beach resides on a generous 3,267sqm lot overlooking the picturesque Cylinder Beach, boasting panoramic ocean views and direct access to Point Lookout Beach.
Known locally as the Straddie pub, it is the only one on North Stradbroke Island, which enjoys circa 400,000 visitors annually.
It provides main bar, bistro, function room, gaming room with 15 EGMs, beer garden, and 15 hotel rooms. There is a drive-through bottleshop onsite, and it holds one detached bottleshop plus rights to a further two, as per Queensland licensing. It also holds caretaking and letting rights for the adjacent luxury apartment complex.
Publican developer Bob Hill purchased it in 1996 and did extensive renovations. He has sold now to a “strategic partnership” of Good Time Group Holdings (GTGH) with Anthony Moreton Group.
Ben Walsh, GTGH founder and CEO, is known for his creation and previous operation of Goldfish, in Sydney’s Kings Cross, and Miss Moneypenny’s Noosa.
Most recently he created a ‘mini precinct’ in Broadbeach at the Beach Hotel site – owned and redeveloped by Anthony Moreton Group – bringing the acclaimed, hatted, Miss Moneypenny’s Broadbeach, events space The Rimini Room, and laid-back American sports bar Fat Freddy’s Beach Bar & Diner.
The partnership is said to be planning acquisitions of unique hotels, which it will develop into models showcasing a premium signature, featuring boutique design and hospitality offerings.
Walsh says it is an “exciting time” for their growth strategy.
“The Stradbroke Hotel acquisition was a once-in-a-lifetime opportunity,” he stresses.
“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.”
The new owners plan to invest circa $5 million into a full venue renovation, hoping to create a ‘must-see attraction’ for the Island’s many and varied guests, while also engaging in the local community and offering support to local programs.
”Its 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,” adds Walsh.
The unique property went to market in 2018, but was unable to attract a suitable buyer. It has reportedly sold now through JLL Hotels’ Tom Gleeson for a rumoured $20 million, who says the asset is more than mere “natural beauty”.
“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.”
