Sunshine Coast pub Alex Hotel hits the market
A popular Alexandra Headland pub is expected to attract plenty of interest after hitting the market for buyers looking to spend millions.
Property
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The Alex Hotel – better known as Blue Bar – has hit the market with the hope to lure investors looking to spend millions.
The beachfront hotel, neighbouring bars, cafe and bottle shop are currently leased to ASX-listed Endeavour Group’s Australian Leisure and Hospitality – one of Australia’s largest operators of licensed premises with more than 350 venues.
Leases and options are in place until 2050 with a current net annual income of $676,000.
At the enviable location across the road from Alexandra Headland foreshore and 1km from the new Maroochydore CBD, the hotel is being advertised as an exciting opportunity for investors to take advantage of the region’s property market.
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CBRE’s Louisa Blennerhassett, Rem Rafter and Paul Fraser are managing the sale on behalf of a private, interstate-based family seller, with a price range of $11m.
“Alexandra Headland is one of the Sunshine Coast’s most popular beachside localities,” Ms Blennerhassett said.
“It is a destination known for its pristine beach, as well as the vibrant community that exists around it, with a strong retail, entertainment and dining precinct.
“The Sunshine Coast is one of Australia’s fastest-growing, most dynamic locations.
“Growth in the region is expected to continue at an above-average rate for many years to come.”
Mr Fraser said it was a unique opportunity.
“Due to this, we expect to see strong national inquiry throughout this campaign, off the back of a year in which Queensland’s pub industry saw exceptional growth,” he said.
The Alex Hotel will be sold via an Expressions of Interest campaign closing on Wednesday, March 1.
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