Nick Politis sells Gold Coast pub after a decade
A partnership including Nick Politis has sold Treetops Tavern after a decade.
The large format hotel in Burleigh Waters traded off-market for c$50 million to Sun Treetops Tavern Pty Ltd, a syndicate backed by Asian investors, directed by Paul Jian-Bo Xu, David Lai, Jian Feng Li and Xiao Sun.
Mr Politis with Peter Ashelford, owner of Lewis Hotels, were the sellers.
They paid $20m to Thomas Hotels.
At about the same, the partners outlaid $13.9m for Coomera’s Boathouse Tavern.
Treetops Tavern
On 7000 square metres at 7 Executive Drive, also exposed to Classic Way, Treetops Tavern contains a bistro and multiple bars.
A gaming room includes 45 electronic gambling machines (continues below).
There is also a drive through bottle shop and standalone liquor outlet.
HTL Property negotiated the latest sale.
The deal comes less than a week since we reported Mr Politis is speculated to have outlaid $19m for a five level Sydney retail asset near Pitt Street Mall.
In November the Sydney Roosters chairman his SEQ Hospitality interest with Eumundi Group, acquired Brisbane’s Caxton Hotel for $50m – a state record price.
Burleigh Waters is about 12 kilometres south of Surfers Paradise.
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