Shaws Bay Hotel and the majestic Fenwick House have sold for circa $31 million to Sydney-based Parras Hospitality.
The ‘Shawsy’ of East Ballina comprises public bar, restaurant, gaming room with 14 machines, and waterside beer garden, 25 minutes from Byron Bay.
Beside it is Fenwick House, built 1886 and fully restored as a fine example of opulent Victorian Italianate architecture and suited to use as an extension of the business, as a boutique hotel or function space.
The two properties reside on a combined 6,500sqm in the East Ballina growth corridor, close to large new master-planned communities and the newly upgraded Ballina Gateway Airport.
They came to market together in mid-October, with price expectations of more than $30 million and EOI campaign closing 23 November.
The properties have sold ahead of time, through JLL’s John Musca, Ben McDonald and Kate MacDonald, on behalf of the Hayter family, Neville, Debbie and Vicky, who have held it nearly 30 years.
This is the latest in a wave of transactions in and around fabled Byron Bay, starting this year with a Laundy-Short partnership buying the Lennox Head Hotel in February, then Justin Hemmes grabbing the Cheeky Monkey in May, and most recently Scott Didier and Scott Emery buying the Great Northern from the Mooney family, in June.
Parras Hospitality is the pubs vehicle of Colin Peter Parras, who also owns the Ambarvale Tavern.
Parras confirmed the purchase to PubTIC, but is keeping his cards close to his chest saying “at this early stage” he is not in a position to elaborate on his plans for the new property.
