Stradbroke Island Beach Hotel and Resort Spa for sale for first time in more than 20 years

A SOUTHEAST Queensland pub, which is one of Australia’s last privately-owned ocean front hotels, is on the market for the first time in 20 years.

Stradbroke Island Beach Hotel and Resort Spa

ONE of Australia’s last privately-owned ocean front pubs, the Stradbroke Island Beach Hotel and Resort Spa, is on the market.

Gold Coast developer Bob Hill is selling the property at Point Lookout, paving the way for North Stradbroke Island’s sole watering hole to change hands for the first time in more than two decades.

CBRE Hotels’ Paul Fraser said Mr Hill is selling the freehold and business of the hotel and resort as well as the management rights of the units on the property which occupies an exclusive headland site on the most easterly point of the Queensland coastline.

“This landmark asset, situated in one of Brisbane’s most visited holiday destinations, offers multiple income streams — delivering a strong upward trending cash flow and bottom line business,” said Mr Fraser who is selling it by private treaty,” he said.

The present hotel, replaced the famous old hotel — affectionately known as the “Straddie Pub” — about 10 years ago, after a $20 million refurbishment.

The hotel is on a 3267sq m site and consists of 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.

Mr Hill’s association with the Straddie Pub began in 1996 when he acquired an initial 50 per

cent holding in the old hotel from long term owners Jim and Judy Lally.

Mr Fraser said the new 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.

He said the hotel had the only two retail offerings on the Island, including an on-site bottle shop and detached bottle shop at Dunwich.

“As such, this hotel has a complete captured market in relation to off premises retail sales, ensuring constant cash flow year-round,” Mr Fraser said.