Real Estate FROM COAST TO COUNTRY
Kingscliff Hotel on the market By Jo Kennett THE KINGSCLIFF Beach Hotel is on the market for anyone who has $100 million burning a hole in their pocket. This beach front gem of a pub is in the heart of Kingscliff and is owned and operated by Peter Mattick’s Taphouse Group, which purchased what was Kingscliff’s landmark Grand Pacific Hotel in 2007, but the price, said to be in the millions, was not revealed at the time. The hotel underwent a massive $11 million expansion and renovation in 2014 and now has several bars, a beer garden and a retail outlet, and is just under 4,000 square metres. It also has approval to go up to 13.6 metres in height, something the sales agents were quick to point out, that could see another redevelopment down the track with apartments built over the top. There are 29 poker machine entitlements, although only 27
machines are on the floor, and that is where the big bucks are. According to the sellers agents, it ranks as both the largest gaming machine holding and best-performing room in the Tweed Shire, and the pub boasts an annual revenues in excess of $20 million, $400,000 a week, across bar, food, gaming, wagering and retail liquor. It also holds what the agent describes as “underutilised extended (1:30am) trading”, and beyond the two unused gaming assets, the agents say there is “future upside through redevelopment courtesy of its B4 mixed-use zoning, with 13.6-metre height approval”. Sellers agents HTL Property describe Kingscliff as the new Byron Bay, which won’t impress locals considering the general consensus that Byron ain’t what it used to be. The Taphouse Group also owns the Chinderah Tavern, and used to own the Imperial Hotel in Murwillumbah and the
Open Homes
Coolangatta Sands (sold in 2019 for $15 million). The Imperial was sold in 2016 for $835,000 by Mattick’s former company Matsal Investments. Matsal bought the Imperial Hotel in 2014 for $2 million but took out the 20 poker machines, each said at the time to be worth around $200,000 which is why they sold it at a cut price. In June this year, former Rich Lister Mattick and the family of his late business partner Phil Salter sold the Port Macquarie Hotel for $57 million which was a record price for the area, but not as much as the Byron Bay Beach Hotel which sold for more than $100 million in 2019. The Brunswick Hotel was sold last year for $68 million by former Nine Entertainment boss David Gyngell and Delvene (Delaney) Cornell, the widow of the late actor and writer John ‘Strop’ Cornell from the Paul Hogan Show. Mr Mattick and Mr Salter cofounded Salmat in 1979 and
117 River Street, Murwillumbah, 10.30-11am
13 Peel Circuit, Tweed Heads South, 10-10:30am 10/13 Cabernet Court, Banora Point, 10-10:30am 1/20 Cashel Crescent, Banora Point, 10-10:30am 1/85 Henry Lawson Drive, Terranora, 10-10:30am 5 Elm Place, Banora Point, 11-11:30am 121 Darlington Drive, Banora Point, 11-11:30am 14/5 Sedalia Place, Banora Point, 11:30am-12:00pm 35 Old Ferry Road, Banora Point, 12pm-12:30pm 11 McAllister Road, Bilambil Heights, 12pm-12:30pm 18 Shady Lane, Banora Point, 1pm-1:30pm 27 Sunnycrest Drive, Terranora, 2pm-2:30pm
86a River Street, Murwillumbah,11.15-11.45am
Ray White Rural Belinda Franks
Saturday, September 17 Northern Rivers Property Group 14 McPherson Court, Murwillumbah, 9-9.30am 147 River Street, Murwillumbah, 9.45-10.15am
14 Mitchell Street, Uki, 12.30pm-1pm 192 Rowlands Creek, Uki, 1.15pm-1.45pm
Tate Brownlee Real Estate
439 Tweed Valley Way, Sth Murwillumbah, 10-10.30am 5 Martin Street, Murwillumbah, 11-11.30am 1282 Tyalgum Road, Tyalgum, 12pm-12.30pm
10/59 Hastings Road, Bogangar, 9-9:30am
MANA Real Estate
2/12 Kentia Crescent, Banora Point, 9-9:30am
3 Simpson Place, Goonellabah, 9.30-10am 37 Narooma Drive, Ocean Shores, 9.30-10am 1D Short Street, New Brighton, 10-10.30am
2/57 Bione Avenue, Banora Point, 9-9:30am 16/7-9 Parry Street, Tweed Heads, 9-9:30am
Kingscliff Beach Hotel is up for sale
made it onto the BRW Rich List in 2010 with a combined wealth of $421 million. Ladies and gentleman, we are in the wrong game.
The Kingscliff Beach Hotel is being sold via international expressions of interest, ending Wednesday, September 28.
18 Dorothy Street, Murwillumbah, 10-10.30am 2/10 Whitton Court, Ocean Shores, 10.30-11am 14 Narooma Drive, Ocean Shores, 11-11.30am 59 Riverview Street, Murwillumbah, 11-11.30am 5 Philip Street, South Golden Beach, 12-12.30pm 119 Smiths Creek Road, Smiths Creek, 1-1.30pm 10 Flintwood Street, Pottsville, 1-1.30pm 33/19 Elizabeth Street, Pottsville, 2-2.30pm
DJ Stringer Property Services 1/4 Archer St, Bilinga ‘Interest Over $995K’ 9-9:30am 8/13 South St, Kirra ‘$1,250,000 NEG’ 10-10:30am 25/22 Binya Ave, Tweed Heads ‘$590K’ 10-10:30am 15 Chardonnay Cres, Tweed Heads South ‘Price Guide $1.075M-$1.125M’ 11-11:30am 7/28 Stanley St, Tweed Heads ‘Price Guide $550K-$580K’ 1111:30am 50 Peninsular Dr, Bilambil Heights ‘$795k’ 12-12:30pm 14/2 Vintage Lakes Dr, Tweed Heads South ‘Price Guide $625K-$650K’ 12-12:30pm
manare.au
88477
We’re here to connect the property dots