ONE of Australia’s most iconic hotels, the “Beachie” in Byron Bay, built by Paul Hogan’s best mate John Cornell, is for sale and expected to fetch more than $100 million.
JLL’s John Musca, Tom Gibson and Tom Gleeson have been appointed to sell the Beach Hotel by the Liberman-family backed Impact Investment Group in conjunction with the van Haandel family, after they received a number of unsolicited approaches.
The business has been owned since 2007 by high-profile Melbourne restaurateurs and hospitality figures John and Lisa van Haandel.
The listing comes after IIG recently sold the Kingsgate Office Tower in Brisbane for $170 million.
Referred to often as the Beachie, it was built in the 1990s by long-time local John Cornell, fondly known as Strop and remembered as Paul Hogan’s best mate. With over 100 metres frontage overlooking Byron’s main beach, the hotel spans a 4,585 sqm area and includes 25 newly-appointed luxury boutique rooms and swimming pool, a pub with extensive beer gardens, restaurant, function spaces and bottle shop.
“There’s no place on earth like Byron Bay and we’ve been privileged enough to own one of the very best businesses in this spiritual, eclectic and internationally recognised township for over 10 years,” John van Haandel said.
Daughter Elke van Haandel added: “We’re local, we love Byron Bay, we support the community and we’re excited to bring our vision for the evolution of the Beachie to new owners, with so much scope for business growth,”
Byron Bay has become a playground for Hollywood celebrities, attracting the likes of Oscar winner Matt Damon, pop princess Miley Cyrus, Chris Hemsworth and Margot Robbie.
Musca said this asset is like no other nationally or around the world, offering irreplaceable, uniquely Australian licensing and trading approvals, sought-after operating scale and an aspirational lifestyle location that you can safely say can never ever be replicated.
This is only the second time this property has become available since it was built.
“Whether you’ve made your millions in mining, software, property or another asset class, there simply cannot be a better way to create a legacy, have a place for your family and friends and make a generational imprint, than by owning the Beach Hotel,” he said.
The national and international expressions of interest will likely to start in October and conclude in November.