Australia: Impact Investment Group has sold The Beach Hotel on Main Beach to Moelis Australia Hotel Management.
The pub, also known as the ‘Beachie’, consists of 25 luxury hotel rooms, a swimming pool, and spacious beer garden.
The 4,585 square-metre site also includes a restaurant, function spaces, and a bottle shop.
Co-owner, John van Handeel, said: “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”.
Crocodile Dundee producer, John Cornell, built the $9 million beach-front hotel in 1990.
It was sold in 2007 to race car driver, Max Twigg, for $44 million, and then to Impact Investments Group in 2009 for $70 million.
Merivale CEO, Justin Hemmes, and the Laundy family, reportedly showed interested in buying the hotel.
The sale was managed by JLL Hotels & Hospitality Group, which is expected to be finalised before Christmas.
Moelis Australia also manages the Redcape Hotel Group in Cremorne, and a single-asset fund who owns the Grand Hotel in Rockdale, New South Wales.
