Sunshine Coast beachside hotel sold

Alexandra Headland’s Alex Hotel has sold to a Sydney-based family for $11 million, representing a yield of 6.19%.

The beachfront hotel, comprising bars, café and bottle shop are currently leased to Australian Leisure and Hospitality Group (ALH). The hotel benefits from 40 gaming licenses and the commercial hotel license allows for three detached bottle shops.

The 934sqm venue has leases and options in place until 2050 and a current net annual income of $681,000.  

Situated on a corner site across the road from the Alexandra Headland foreshore, the Alex Hotel is midway between Caloundra and Noosa and 1km from the developing new CBD at Maroochydore.

CBRE’s Louisa Blennerhassett, Rem Rafter and Paul Fraser brokered the transaction on behalf of a Melbourne family.

“The Sunshine Coast is attracting strong investment enquiries from Southern markets on the back of our strong growth story, it is one of Australia’s fastest growing regions, benefiting from public and private funding in key infrastructure projects,” Ms Blennerhassett said.

“We received national interest for this asset. The purchasers knew little about the Sunshine Coast prior to inspecting the property and were blown away by the growth and opportunity in our region.”