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Premium Content Subscriber only Almost $45m has been splashed on three Sunshine Coast pubs in less than two months as former owners called last drinks. ALE Property Group recently sold Pelican Waters Tavern and the Noosa Reef Hotel and the Scanlon family also offloaded Surfair at Marcoola in an off-market sale. Industry heavyweights Hotel Property Investments and Australian Venue Co snapped up the iconic Surfair after a discreet sales campaign by HTL Property s Glenn Price and Brent McCarthy. It is believed the beachfront hotel sold for $20m. Having previously sold the hotel to the Scanlon family s Suncoast Hotel Group, Mr Price said it was rewarding to be tapped again to manage the family s exit. ....
Interest came from throughout Australia as well as Hong Kong, America and Singapore. There was national and international interest in Pelican Waters Tavern. It was one of four ALE pubs offered for auction by Burgess Rawson on March 31 which all sold to ALH Group. âOf the four pubs Iâd say (Pelican Waters) was the one that attracted the most interest,â Mr Conridge said. âEveryone was very impressed by the location, not only because it was on the waterfront, but also the adjoining Woolworths anchored shopping centre. Mr Conridge said there were 47 registered bidders on the day and 12 active for the Pelican Waters Tavern. ....
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The properties will go to auction at Melbourne s Crown Casino through Burgess Rawson on March 31. Ale Property Group lease the pub to Australia s largest pub operator ALH on a 25-year term to 2028 plus four 10-year options through to 2068. Burgess Rawson Queensland sales director Glenn Conridge said it was rare for three properties to hit the market at once. The Pelican Waters Tavern is set to go under the hammer later this month with its parent company Ale Property Group s website valuing the waterfront venue at $7.6m. Single tenanted pubs on this scale that are on long leases to ALH, don t hit the market often, Mr Conridge said. ....