As the Sunshine State property market continues to heat up, the popular Surfair Beach Hotel is testing the waters.
Like the other eastern States, Queensland is experiencing major development, particularly in areas that benefit from the booming tourism industry and low Australian dollar.
Amid the opportunity, sources told PubTIC the private local owner of Marcoola’s Surfair Beach Hotel & Conference Centre has revived the 1970s pub, and is divesting to pursue interests in “a shopping centre development in [nearby] Peregian”.
The Expression of Interest campaign is being managed by JLL Hotels’ senior vice-president Paul Fraser and Power Jeffrey & Co director Robert Hunter.
The Hotel boasts 1,875 m² gross floor space (GFA), with a sports bar, gaming including 25 EGMs, TAB and Keno, and a successful bistro and outdoor dining area. It also holds corporate facilities and is situated amongst an increasing number of resort-style properties and apartment blocks.
Fraser said they are expecting national interest, largely due to its suitability to group management and proximity to the airport and major roads.
“The Surfair Beach Hotel & Conference Centre is embedded in the region’s history,” says Fraser.
“It has since evolved into a robust cash flow business, and with the recent acquisition of the neighbouring Conference Centre a huge growth opportunity for the venue presents itself. The flow effect into the other revenue streams of the tavern is invaluable, and really complements the day-to-day patronage of the tavern.”
Expression of Interest close Tuesday, 1 March, 2016.
