The big, boisterous Beachfront Hotel has been sold to the ASX-listed Endeavour Group, aka ALH, by long-term owner Doug Sallis.
Occupying a massive 7,000sqm close to the Darwin CBD, Hospital and the Northern Territory’s largest retail centre, the Beachfront provides a public bar, beach bar, bistro, TAB and gaming room with 20 machines, a popular beer garden and a dual lane drive-through bottleshop.
It also offers unparalleled ocean views across Nightcliff Beach, and is a former recipient of the National AHA’s award for Best Sports Bar.
“The Beachfront Hotel is a well-established, strong performing premium venue, popular with families, locals and tourists,” offered Mario Volpe, managing director of Endeavour’s hotels arm, ALH Group.
“It is an iconic pub and an important part of the local community, and we look forward to working with the existing team to build on the pub’s popularity while maintaining the qualities that make it so well-loved today.”
Servicing the Rapid Creek and Nightcliff precincts, the pub enjoys catchment of more than 7,000 residents, projected to grow 30 per cent by 2030, and is set to benefit from $70+ billion in private and government infrastructure underway.
Endeavour says the acquisition furthers its investment in local communities in the Territory, which already consists of more than 220 staff across 20 stores and pubs, and includes works on the horizon.
“We are always looking to make our venues and stores even more relevant to locals and to strengthen those local connections,” adds Volpe.
“In addition to the acquisition of the Beachfront Hotel, we are also working on exciting plans to invest in our existing hotel assets in Darwin, including the Parap Tavern and the Airport Hotel. These plans involve a significant multi-million dollar investment, which will not only deliver an enhanced experience for patrons, it will mean jobs for locals and a boost to the local economy.”
The vendor on the Beachfront was 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.
After 22 years at the helm Sallis put the asset to market in early March, citing annual revenue exceeding $10 million and price expectation of more than $25 million.
He says he “couldn’t be happier” with the outcome of the sale.
“It’s a fantastic pub, an icon in the Northern Territory, and I wish the purchaser only the best and look forward to seeing the hotel move into its next phase of life under new tutelage,” says Sallis.
The on-market campaign was managed by HTL Property’s Brent McCarthy and Glenn Price, generating a reported 40 enquiries, originating from all mainland states – illustrating the national appetite for quality assets.
“Presented immaculately, the Beachfront Hotel draws robust revenue from food, beverage, gaming and drive-through liquor retail centres,” offered McCarthy.
