Port Douglas iconic pub sells for $12 million

The iconic and historic Courthouse Hotel at Port Douglas has been sold to a Sydney-based hotel group for more than $12 million.

The Hilrok Hotel Group, which owns the nearby Central Hotel and the Ivanhoe Manly Hotel in Sydney, is the new owner.

A group spokeswoman would not comment on the purchase of the 134-year-old pub on the corner of Macrossan and Wharf streets.

Changing hands: The Courthouse Hotel, Port Douglas.

The hotel was owned by East Coast Hotels, which has the Helm Bar at Darling Harbour and has just bought the Titanium Bar, owned by Gold Coast Titans boss Michael Searle, at Surfers Paradise. The group sold the Tannum Sands Hotel at Gladstone for $27.5 million late last year.

Courthouse general manager Graham Bennett said it sold for more than the rumoured $12 million but could not disclose the sale price.

He said director Peter Wadsworth wanted to keep the pub but was "out-voted" by the other five directors.

Mr Bennett said Tim Peterson, a director of Hilrok, had done wonders for the Central Hotel in Macrossan St and he was confident they would do the same for the Courthouse.

He said they had turned around the Central, including big screens for sports events, and transforming the beer garden into an area specifically for youngsters with a giant screen showing children's movies.

"Tim has done a very good job at the Central and I'm sure he'll do the same here," Mr Bennett said .

He believes the new owners would upgrade the heritage-listed hotel and nurture the venue's reputation for live music, especially bigger bands.

The hotel employs 30 staff and it is understood they would retain their jobs.

Source: The Cairns Post, 12 July 2012