Hotel Brunswick and another property are being bought in a $68 million deal

The company that already owns a major Byron Bay venue will have invested more than $170 million in the region after settlement.

The historic Hotel Brunswick in Brunswick Heads. Picture: Cathy Stubbs.

The company that owns the Beach Hotel Byron Bay is in the process of acquiring a major site on the North Coast.

MA Hotel Management has exchanged contracts with the owners of the iconic Hotel Brunswick and a neighbouring property for $68 million, excluding transaction costs.

CEO Dan Brady said it was the group’s second major hospitality purchase in the Byron Shire since the 2019 purchase of the Beach Hotel.

“I think hopefully the community, as we have gotten to have quite deep relationships through the Beach Hotel, can see this is a bona fide move from us to get further, deeper connections into the community,” Mr Brady said.

“We’re excited by the idea to be able to particularly elevate the arts and the culture through arguably the two most iconic venues in the area.”

Hotel Brunswick, Brunswick Heads.

Hotel Brunswick is currently owned by David Gyngell and Delvene Cornell – previously in partnership with the late John Cornell who was well known for his role as Strop on The Paul Hogan Show.

“The current owners are well respected and great contributors to the community,” Mr Brady said.

He said he hoped they could make a similar mark on the town.

The adjacent building included in the sale involves a riverfront store with accommodation above.

Like the Beachy, Mr Brady said his company had a vision for the Brunswick Heads establishment.

“The current way in which it operates … it’s got great appeal to a wide market but if you think of Bruns you’ve got places like Fleet and other fantastic dining experiences,” he said.

Dan Brady says his company wants to balance the natural beauty and heritage of the historic pub with consideration of all-weather options for patrons.

He said they wanted to help inject “more diversity” into the town’s dining experiences.

They also plan to consider how to best balance the natural beauty of the location with more all-weather options.

“Importantly, and as some in the community may know, we’ve supported our hospitality workers wholly through the (pandemic) shutdowns and whatnot,” Mr Brady said.

“Our staff and our teams are extremely important in how we deliver our hospitality experiences.”

He said they were looking to give existing staff in Brunswick Heads a sense of “continuity” as they transition to the new ownership.

The stage and part of the outdoor dining area at Hotel Brunswick.

“We were welcomed into the close-knit Byron community 19 months ago at the Beach Hotel Byron Bay and have been inspired by the exceptional spirit and sense of community that exists locally,” Mr Brady said.

“It has been a challenging time for the hospitality industry, although the silver lining is that it has allowed us to further hone our understanding of the Byron area, and we have been able to lead with our values to build a level of understanding and trust with the community … a community that we love and are excited to grow with.”

MA Hotel Management is the hospitality branch of MA Financial Group.

Settlement of the Hotel Brunswick contract is expected to take place in mid-March.

Current co-owners David Gyngell and Delvene Cornell responded to the sale.

“We have enjoyed an amazing journey with so many great people at the iconic Hotel Brunswick,” they said in a statement.

“Thanks to one and all. It’s landed in the best possible hands of Dan Brady and his team.

“Its growth will continue under their leadership in the best spot on the north coast of Australia.

“We will be cheering their continued success.”