Roche Group, owned by rich-listers the Roche family, is offering up the very large-format Irish-themed Harrigan’s Calypso Bay, as they focus on next steps and investments closer to their NSW base.
Found around 20 minutes from the Gold Coast, and less than an hour’s drive from both Brisbane and Coolangatta airports, the sprawling premise boasts multiple bars, a modern bistro with outdoor dining, a gaming room with 11 SEQ machine authorities, function spaces, and three detached bottleshops.
It was built on a huge 5,165sqm lot with 55 metres of absolute, never to be built out, water frontage onto Calypso Bay Marina and its 5-star boating facilities.
Marketing literature on the Hotel cites the potential benefit of capex toward wedding and function trade, and operational upside that comes with hands-on management.
Roche Group is renowned for world class developments and planned community precincts and is the developer of the entire $2 billion Calypso Bay master planned housing estate, which it has been creating on a 269-Ha former cane farm for nearly two decades.
Harrigan’s is the only hotel servicing the burgeoning community, projected to be home to approximately 5,500 residents upon completion. It is within the Ormeau to Oxenford growth corridor, slated by the Queensland Government to see 100k new residents over the next 15 years, making it the fastest-growing Statistical Area Level 3 (SA3) in the state.
Wider south-east Queensland is experiencing and expected to see continued historically high economic growth, driven by interstate migration and population growth, tourism, GDP growth led by the mining sector, and significant infrastructure spending in the lead-up to the 2032 Olympics.
In light of this, Roche Group submitted plans in 2023 for the next stage at Calypso Bay, due to bring another 76 duplexes.
Representing a rare coastal Hotel in SEQ, this marks the first time Harrigan’s Calypso Bay has been offered to market since its construction in 2007, and it is likely to see sale price of around $10 million.
“Currently managed internally by the interstate owners, Harrigan’s Calypso Bay presents significant operational upside for a more localised or hands-on management approach,” notes HTL Property’s Glenn Price, who is marketing the property with associates Xavier Plunkett and Brent McCarthy.
The freehold going concern of Harrigan’s Calypso Bay is being offered via Expressions of Interest, closing Thursday, 27 June.
