Byron Bay identities Tom and Cathryn Mooney have listed their vacant Ballina Hotel, as demand for northern New South Wales and coastal properties continues to grow.
The Ballina Hotel is a prominent two-storey interwar brick structure built in 1926 on a sizable 2,023sqm block on River Street, which flanks the Richmond River as it reaches the Pacific, on the southern fringe of Ballina CBD. The Ballina RSL is around 100 metres east.
The pub counts a 24-hour licence and 16 EGM entitlements, but the tenant reportedly departed and it is not currently trading.
The Mooneys have owned the Northern Rivers region Hotel since 2002, and unwilling to resume operations themselves have engaged CBRE’s Ben McDonald and Kate MacDonald, with CBRE regional development specialist Xavier Rahme.
Agents are offering the proposition as a ‘blank canvas’ in Ballina, one of the State’s top growth areas and “the gateway to Byron Bay”.
“From a hotel point of view, we see a very unique opportunity for the right operator who has the creative vision to bring this hotel to life,” says MacDonald.
“We see the hotel generating interest from traditional hoteliers, both local and interstate, as well as commercial property developers and investors keen to gain a foothold in what is one of the fastest growing regions in NSW.”
The sale also includes close to $3 million in attached s94 council contribution credits, which is expected to significantly enhance its potential and appeal.
The Ballina Hotel vacant possession is being sold via Expressions of Interest, closing Thursday, 5 March. The licence and property will be sold individually or in one line.
