Beach Hotel Sells
The iconic Beach Hotel – The Beachie – has found a new owner. Investment company Moelis have an exclusivity agreement to buy The Beach Hotel in Byron Bay. The agreed price is just over $100 million. In a recent issue, we featured a story on the history and intrigue around The Beach Hotel – read here.
If the transaction proceeds, the Beach Hotel will be managed by Moelis Australia Hotel Management with the intention to retain the majority of the existing management and venue staff. Moelis Australia Hotel Management CEO Dan Brady called The Beach Hotel Byron Bay an ‘iconic Australian establishment located on irreplaceable real estate’.
Gyngell sells in Sydney, stays in Byron
Former Channel 9 boss David Gyngell and his television presenter wife Leila McKinnon have sold their Sydney home in Dover Heights. The couple spend most of their time in the Byron Bay hinterland these days According to Property Observer, they have an ‘extensive Northern Rivers tourism property empire’.
David Gyngell is the son of the late, legendary Channel 9 boss Bruce Gyngell. Gyngell Senior is known as the ‘Father of Australian TV’. With the words, ‘Good evening, and welcome to television,’ he literally introduced TV to the Australian public when Channel 9 first went to air in 1956. David Gyngell also had a brief moment of notoriety when photographed as one half of a big boy Bondi brawl with ex-close friend, James Packer. The view of the Pacific from the deck of the St Helena Drive Shoot home will be more peaceful than that kind of carry-on.
901 Main Arm Road, Main Arm
Who would have thought a few years ago that funky old Main Arm would be nudging million-dollar sales? 901 Main Arm Road is a relocated Queenslander with a small studio and a shed on half an acre. Unfortunately, I was not sufficiently aggressive for a client and we watched it slip away at a price just below the magic $1M. It may have been the best property in Main Arm, but I still see a lot of market growth in that area.
47 – 49 The Esplanade New Brighton
A similar story is happening in parts of New Brighton. We have seen good growth and demand in South Golden Beach. New Brighton already seems expensive but I predict it will continue in demand for beach lovers and those not scared off by predicted rises in sea level. This property on pretty trafficky The Esplanade is only two-bedroom and looking for $1.245M. I prefer quieter streets such as North Head Road, Short Street or Pacific Street. It is listed by Adrian Howe with North Coast Lifestyle. He predicts it will sell within weeks.
Coolamon Scenic Drive
Coolamon Scenic Drive is a semi-circular rural road that hugs the escarpment overlooking Byron. It has spectacular views and breathtaking aspects – and some of the most expensive properties in the hinterland. Coolamon Scenic Drive has five properties for sale at the moment, which is unusual.
494 Coolamon Scenic Drive, Coorabell
This unrenovated brick veneer family home is to be auctioned this coming Saturday. It is expected to go somewhere around $1.7M. The location and bones of the house are good and in the right hands, it could be transformed into something really interesting.
600 Coolamon Scenic Drive, Coorabell
This property has been on the market for quite a while. The sales campaign started in the high $3million and the vendors are now looking for $2.7M. It is a newly renovated two-story, four-bedroom solid brick home with a pool on 2.25 acres.
856 Coolamon Scenic, Coorabell
Over the years I have seen this house go to market a few times. It has been renovated quite well, although it hugs the ridge quite tightly, so you have the feeling you are about to fall off. Four beds, four baths, a pool and looking for $2.55-2.75M.
437 Coolamon Scenic, Coorabell
5 bedrooms on 5 acres, new three-bedroom home, and two-bedroom studio. Looks like good value $1.55 – $1.75M but I have been told the block is tight and perched on a ridge.
“Coorabell Springs” Keys Road, Coorabell
As mentioned in Market Watch, a house on small acreages 20 minutes from Byron has always been a hot property. It is even more so now and it was mentioned good ones are highly contested. Sometimes the best way to go is to capture one of the occasional new releases of community title land. There are now only two of the original five lots in the small parcel of CT lots in Coorabell. This one is listed by Greg Price of McGrath Byron Bay. There are a couple more of these small developments in the pipeline that I know of.
Tallowood Estate, Mullumbimby
Even before the official release of Stage 7 Tallowood is online, many of the blocks are being snapped up. A also mentioned in the Market Watch video, many people see the benefit of buying a block and building. The economics stack up compared with paying rent. Happy to take anyone out to Tallowood and show them around if they are interested.