Billionaire Chris Morris has handed the freehold going concern of his Julatten Hotel to local private investors in a sweetheart deal to see it continue to serve its community.
Julatten is a northern Queensland town of 1,100 residents, approximately 25 kilometres from both Port Douglas and Mossman, around 90 kilometres north of Cairns.
Its pub resides on a prominent two-hectare corner, offering a public bar and outdoor bar, multiple dining areas, a patio and a substantial undercover deck. The hospitality operation is complemented by two self-contained Balinese-inspired cabins.
The large site fronting the Rex Highway benefits from exposure to passing trade, with Julatten serving as something of a gateway to the surrounding hinterland and reef attractions.
Previously known as the Highlander Tavern, it fell victim to the pandemic turmoil and closed the doors in 2020.
Chris Morris, entrepreneurial founder of Computershare, has extensive property and tourism interests across the east coast and Western Australia.
In 2022 his Colonial Leisure Group, the former hospitality arm of what is now Morris Group, bought the property at Julatten for around $1.2 million.
An extensive capital works program costing around $400k was executed, enhancing the hotel’s presentation and operational efficiency. It reopened in 2023.
Further upside has been identified in the addition of more cabins, subject to planning approvals, and greater engagement with complementary tourism activities.
Having sold the iconic Fox Hotel in Brisbane to Ghanem Group last year, Morris now exits Queensland and is pleased to have found the right steward for Julatten.
“This was never about achieving the highest price,” says Morris, executive chairman of Morris Group.
“It was about ensuring the hotel remains open and continues to serve the community, which I know is incredibly important to the local residents.
“I am pleased that the purchasers are locals and, I look forward to enjoying a pleasant Sunday afternoon there soon.”
The sale, for an undisclosed amount, was through an on-market Expression of Interest campaign by CBRE’s Taylor Morris and Danny Betros, providing a “turnkey opportunity” for the incoming unidentified investors.
“Under the new ownership, the hotel was well positioned to continue serving as a key destination for both locals and travellers,” says Betros.
