Put to market for the first time ever, iconic north Queensland hotel the IronBar Saloon in Port Douglas is being sold by long-term family owners.
Renowned for its laid-back holiday lifestyle and boutique businesses, Port Douglas, approximately 67 kilometres north of Cairns, has a resident population of around 4k and serves as a gateway to the World Heritage Great Barrier Reef and Daintree National Park.
The tourist-soaked region is a highly sought-after hospitality location and there are only four pubs in town, each owned by private operators.
Established in 1991 on Macrossan Street, in the centre of the vibrant Port Douglas Village, the IronBar has only ever been in the hands of the Loughnan family, and well-known local businessman Shane Loughnan.
On offer is a new 15-year lease, with additional options and “encouraging lease terms” to assure its future.
“The IronBar has been a big part of our lives for the last 30 years, and while we know it is the right time for our family to move the business on, the decision has come with some trepidation,” says Shane.
“My boys and I are looking forward to our planned future endeavours back in my home state of Victoria.”
The Saloon offers multiple bars, a renowned steakhouse bistro, gaming floor and numerous entertaining spaces. Although approved for 25 machines, the pub currently operates only 23 authorities, and does not trade its full licensed hours, until 3.30am.
“There exists a clear value add proposition for the incoming operator,” notes HTL Property’s Glenn Price, marketing the opportunity with colleague Brent McCarthy.
“Additionally, a proposed detached bottle-shop space will be included within the lease terms giving further potential scope to the business.”
A new lease on the IronBar Saloon is being sold via Expressions of Interest, closing Friday, 1 December.