Winchester Group is offering the large-format North Byron Hotel, in the northern NSW mecca.
Formerly known as the Sun Bistro, it is the largest single pub site in the precinct, located adjacent to award-winning resort Elements of Byron and Belongil Beach, on an enormous 7,653sqm landholding, with mixed-use zoning.
The venue comprises bar, bistro, drive-through bottleshop and a big sun-soaked beer garden, plus plenty of parking, which facilitates large ‘festival’ and ‘market-stye’ events.
It underwent an extensive renovation through Paul Kelly Design and is generating over $175k in weekly revenue across departments.
Byron Bay continues to be a popular region for long-term investment, enjoying desirable lifestyle benefits, visitors from around Australia and beyond, and high barriers to entry. The nearby Harvest Estate development is underway, and the NSW Governments recently announced it will cap short-term letting, which is predicted to bolster the local population. Residential property prices have reportedly increased over 1,200 per cent in the past two decades.
Winchester Group purchased The Sun Hotel from the Flannery family’s KTQ Group in early 2021.
The Brisbane-based Group works with existing hotel owners and investors to improve the value of assets. It was involved in the remaking of the Beach Hotel, acquired by Moelis in 2019 for $103 million.
The North Byron pub is being sold in a campaign through JLL Hotel’s Kate MacDonald and Tom Gleeson, who say it is a place “that the locals love”.
“It is easy to be distracted by the natural beauty that surrounds the North Byron Hotel, however, behind its picturesque scenery is a scalable and balanced business that provides an incoming purchaser the rare opportunity to own a Hotel within the universally desired Byron Bay,” offers MacDonald.
North Byron Hotel is being sold via Expressions of Interest, closing Thursday, 4 April.
