Buyers and investors may have the chance to secure one of Australia’s most picturesque ocean-front pubs, as the Stradbroke Island Beach Hotel and Resort Spa has been put up for sale.
For the first time in 20 years, the Point Lookout destination will be marketed by CBRE via a private treaty process on behalf of developer and investor Bob Hill.
Queensland rich-lister Hill secured a 50 per cent stake in the “Straddie Pub” in 1996 and undertook a $20 million refurbishment around a decade ago.
The hotel is situated on a large, 3,267 square metre site and comprises a main bar, bistro, beer garden, gaming room with machines, TAB, function room and on-site bottle shop. There are 13 accommodation rooms and management rights for an adjoining complex comprising 16 units.
CBRE Hotels’ Paul Fraser said the property would deliver its new owner a strong upward trending cash flow and bottom line business.
“This landmark asset, situated in one of Brisbane’s most visited holiday destinations, offers multiple income streams,” Fraser said.
“The incoming owner will reap the benefit of a strong initial yield in addition to huge upside
and revenue growth opportunities, particularly through the food and function offerings.”
The Stradbroke Island Beach Hotel occupies an exclusive headland site on the most easterly point of the Queensland coastline. It offers northerly panoramic ocean views and direct access to Point Lookout’s Cylinder Beach.