Amid massive local development, Cairns’ Grand Hotel has hit the market, the Courthouse is being courted by Council, and a new team sign for the Cape York.
Occupying 2,035 m² on a prominent corner in the heart of town, the Grand Hotel boasts the popular Croc Bar – a distinctive timber crocodile-shaped bar top and popular local space – and close proximity to Cairns Central – the largest shopping centre in Far North Queensland.
The pub also features a full commercial kitchen, casual dining and lounge area, two alfresco dining areas, a separate gaming room with 20 EGMs and 19 accommodation rooms. It also holds an adjacent two-lane drive through and two detached bottleshops, under long-term leases.
The Grand is being marketed by CBRE Hotels’ Paul Fraser, via an Expression of Interest campaign closing 23 November, 2016.
“The strong level of enquiry recorded throughout the successful sale of the Cairns Courthouse Hotel reflects the emphasis that astute investors are placing on the consideration of leisure market investments,” says Fraser.
Despite Lantern announcing the successful sale of the Courthouse in July, to the listed company’s surprise Cairns Council recently issued a press announcement stating its intentions to attempt to compulsorily acquire the historic building.
Mayor and Councillor Bob Manning spoke of Council’s vision for the town to be “the arts capital of northern Australia” and complained they were “never given the opportunity” to purchase the Hotel from Lantern during the five-week public Expressions of Interest campaign.
“That is why we have made this decision to implement our right to acquire the property for community use,” Manning told Northern Beaches News last Friday.
Today, a puzzled Lantern posted a ‘stay tuned’ notice on the ASX, re-stating its intention to complete the sale to Pelathon, due this month, subject to approvals by Queensland OLGR, and stating it has not received any notification from Council regarding its intentions.
“Lantern notes the recent unexpected media release from the Cairns Regional Council that it proposes to compulsorily acquire the Courthouse Hotel,” said the announcement.
Meanwhile, the colourful and iconic Cape York Hotel business has been sold without dispute, with four friends co-signing a new 15-year lease on the landmark pub last week.
Husband and wife Dennis and Donna Maher have teamed up with New Zealand couple Kylie Shand and Craig Hutchinson to run the pub, built in 1898.
Dennis has worked in pubs since dropping out of school at age 14, now over 35 years, and owns the freehold of the local Barrier Reef Hotel. Kylie and Craig own a local business, and Kylie has worked at Dunwoody’s Tavern for years.
The Cape York – like a growing number of Cairns watering holes – holds an entertaining history of fortune, both good and otherwise.
1898: Tramway Hotel built by William John Hannaysee.
1920: Tramway Hotel acquired by McNamara family. Severely damaged by a cyclone later that year, it was rebuilt.
1932: The McNamara family renamed the premise the National Hotel.
1987: The McNamara family sold the property to Cape York Shipping Company (CYSC).
In August, 1987, a nearby LPG storage facility caught fire and caused the largest LPG explosion in Australian history, killing one person, wounding 27, including three firefighters, and extensively damaging the Hotel.
November, 1987: CYSC reopened the pub as the Cape York Hotel, rebuilt in its original design.
