Steven Shoobridge sells Saltwater Creek Hotel Helensvale to fellow hotelier Paul Xu for $10 million

A pub and bottle shop in a booming northern Gold Coast suburb have sold for an eight-figure sum in an off-market deal between seasoned hoteliers. Here’s what it means

The Saltwater Creek Hotel has sold. Picture: Tertius Pickard

A PUB and bottle shop in the booming northern Gold Coast suburb of Helensvale have sold for an eight-figure sum in an off-market deal between seasoned hoteliers.

Queensland Hotel Investments, a company linked to Paul Xu, paid $10 million for the Saltwater Creek Hotel, at 40 Siganto Dr, with the sale settling on December 6.

The seller was a company linked to wealthy Star Hotels baron Steven Shoobridge, who owns at least 10 other pubs across Queensland.

The Saltwater Creek Hotel and Star Liquor warehouse has sold. Picture: Tertius Pickard

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The $10 million paid by the hotel’s new owners is enough to cover Mr Shoobridge’s purchase of Christoper Skase’s palatial former home in the Brisbane suburb of Hamilton, which he picked up late last year for $10.138 million.

Skase had the luxurious riverfront, Great Gatsby-style mansion built in 1988 at a reported cost of $35 million, with a further $5 million spent on extensive renovations in 1997.

It has nine bedrooms, nine bathrooms and is spread over nine titles.

Mansion known as Bromley at Dickson Terrace Hamilton built for Christopher Skase.

The Saltwater Creek Hotel backs onto the creek of the same name, and currently has a Star-branded drive-through bottlo at the front of the large block.

It is unknown whether part or all of the business is set for a rebrand or other changes and

neither pub owner could be contacted.

Property records show Tully-born Mr Shoobridge has retained the neighbouring Hollywood Plaza shopping centre as well as interest in taverns at Richlands, Gympie, Raceview, Townsville, Innisfail, Biloela, Maroochydore, Hamilton and Runcorn.

Companies related to Mr Xu already have the Helensvale Tavern on Sir John Overall Dr, as well as the Stafford Tavern further north.