The Beachfront Hotel in Darwin is being sold by NT icon Doug Sallis, representing the first freehold going concern sale in many years.
Occupying a massive 7,000sqm site, it is close to the CBD, Hospital and the Territory’s largest retail centre – Casuarina Square – in what is deemed one of Australia’s fastest-growing urban regions.
The Beachfront – a former recipient of the National AHA’s award for Best Sports Bar, is a thriving operation blessed with stunning ocean views across Nightcliff Beach.
It provides a public bar, beach bar, bistro, TAB and gaming room with 20 machines (the maximum in the NT), a popular open format beergarden and a dual lane drive-through bottleshop.
It also counts an unused inside area of around 450sqm, ideal for a restaurant, function space or reconfiguration of existing spaces, and clear opportunity for an incoming purchaser.
Generating annual revenue north of $10 million across food, beverage, gaming and retail liquor, the rare offering is likely to achieve sale price of more than $25 million.
The pub services the Rapid Creek and Nightcliff precincts, with combined population of more than 7,000 residents, amid the fast-growing Darwin population base, projected to increase 30 per cent by 2030.
It is set to further benefit from $70+ billion in private and government infrastructure underway, slated to double the GDP, which includes a major defence allocation and the ASEAN power link project.
Vendor on the asset is Doug Sallis, who has been an integral part of the Darwin hospitality scene for more than two decades, and served as President of the AHA NT.
A known character of the top end, this year he sailed his hot pink yacht in the Sydney to Hobart.
Sallis has appointed HTL Property’s Brent McCarthy and Glenn Price to market the pub.
“This will be the first significant freehold going concern hotel sale seen in Darwin for over 10 years, and as such we expect strong local and interstate interest given both the quality of the property and the patent growth in the region,” says McCarthy.
The freehold going concern of the Beachfront Hotel is being sold via international Expressions of Interest, closing Wednesday, 30 March.
