Beachcomber Hotel Sold

SYDNEY 24th March 2021 – JLL Hotels & Hospitality Group is delighted to announce the sale of the Beachcomber Hotel in Toukley on the NSW Central Coast, for $20,000,000.

Held by the same owner for 25 years the 'Beachie” sits spectacularly between two Great Lakes and the Pacific Ocean with nearly 100m of absolute lake frontage and its own private pier. The sprawling complex will soon be relaunched as a 4-star, 80-room resort offering multiple indoor and outdoor bars, restaurants, six function rooms, gaming and bottleshop facilities as well as expansive guest facilities including 20 metre pool, sauna, gymnasium and wellness services, three level car park all amid a 1-hectare site with lawns terracing down to the water’s edge.

Popular new owners Oscars Hotel Group are set to relaunch a cool new beach club and resort venue said to offer “a fully integrated hospitality experience for locals and a hip weekend getaway for those seeking good vibes and lakeside relaxation” less than 90 mins from Sydney.

JLL’s Managing Director John Musca who negotiated the off-market sale, suggested “After a long period of custodianship, the facility is ripe for evolution and the transaction evidences the continued flight to hospitality assets counting waterfront attributes foremost amongst their list of unique investment qualities.”

The sale comes off the back of the recent transaction of another waterfront asset, the Lennox Hotel in northern New South Wales by Sydney’s Laundy family in association with hospitality operators Sydney Collective for $41,000,000.

“The weight and diversity of capital remains strong for the hotels nationally at present and, although not indiscriminate, suitors are evident across the board for investments within the highly protected and resilient asset class”, Musca said. COVID-19 has generated both trading challenges and opportunities arising from new industry trajectories which experienced operators are identifying and securing at pace”.

24th March 2021