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Byron Shire
August 3, 2021

Byron Bay icon up for sale

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Aerial view of Byron Bay's Beach Hotel, which is for sale for $75 million. Photo supplied
Aerial view of Byron Bay’s Beach Hotel, which is for sale for $75 million. Photo supplied

There’s barely a person who visits Byron (not to mention the locals) who doesn’t make a pilgrimage to this world famous beachside establishment.

We’re talking of course about the famous Beach Hotel (Beachie, or Top Pub as it’s affectionately known to locals).

Built by probably Byron’s first celebrity couple, John ‘Strop’ Cornell and Delvine Delaney in 1990 at a cost of $9 million, it sold to its current owner, Melbourne businessman Max Twigg for more than $65 million.

The asking price this time around? A mere $75 million! Makes some of those properties on the Belongil spit look positively cheap.

Just in case you’re interested in a quick purchase, Daniel Dragicevich of CBRE Hotels and Tony Bargwanna and Jared Hodge of Ray White Hotels have been jointly appointed to sell the landmark property.

‘This is a rare opportunity to secure the only beachfront hotel in Byron, one of Australia’s leading holiday destinations. The area attracts significant year-round tourism expenditure, with an estimated 1.37 million visitors annually, which will be a key driver of investor interest in the Beach Hotel sale campaign,’ Mr Hodge said.

Mr Dragicevich said, ‘The national hotel investment market has seen a huge spike in values in the last couple of years with the continued low borrowing rate environment directly linking to capitalisation rates – especially for truly iconic properties such as the Beach Hotel.

‘Sales of the Prince of Wales in St Kilda, Melbourne and the Golden Sheaf Hotel in Double Bay, Sydney saw competition generated across various purchaser profiles and we expect a similar market response for the irreplaceable Beach Hotel,’ he added.

The 2-10 Bay Street venue enjoys substantial frontage to the beach and is known for its huge outdoor areas. The large format venue includes multiple bars, a bistro with alfresco dining area, beer garden, a walk-in bottle shop, gaming room, 25 on-site hotel rooms and conference facilities as well as a pool with heated spa.


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5 COMMENTS

  1. Are we surprised.After the last sale of the Beach Hotel,the pub stopped being a locals venue.Sunny Sunday afternoon sessions had been traditionally well attended by locals of all ages but these were wrecked by noisy DJ ‘s in the breaks and a different focus on programming and customers. I was once told to go and stand in the children’s sandpit area if I wanted a quiet place to talk to friends in the break.Ir was impossible to speak or hear over the DJ.We all know pubs are about selling alcohol but it has been rare to find a local in the sea of drinkers in recent years…at any time, but especially on. Weekends, ‘Local interest bands’ were increasingly programmed to play at Bruns.which is a long way to go if you live in Suffolk. It has become yet another marker of Byron Bay township catering primarily to tourism and their dollars at the expense of the local community. Doesn’t everything fun,interesting or free happen in Mullum or Bruns now anyway? I can’t imagine the new owners will be any different..but wouldn’t it be nice….at least we still have the Rails.

  2. I do hope the new owners decide to clean, fix & properly maintain the woman’s toilet block. It’s been a disgrace ever since the pub was sold.

  3. Hope the new owner will care for the property like John & Delvene it has been sad to see it shabby. Justin Hemmes has transformed The Newport” (Newport Arms) into a family hotel like the Cornells transformed the old Top Pub.

  4. Sharing some Sweet memories from byron bay from a SAE student back in 2004..beach hotel by 2004 was just mmmkay! Rails was the place that made somebody from 5000 miles away feel at home! Will always love the year in byron.. Was the best days of my life! The amazingly down to earth hip folks of byron were the best.. Beautiful!

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