Impact Investment Group is selling Byron Bay’s Beach Hotel, also known as the Top Pub.
The high-profile hospitality venue, with about 100 metres of frontage to Main Beach, is expected to trade for more than $100 million.
IIG paid businessman and racing car driver Max Twigg $70 million for the hotel in 2017 on a long settlement.
Melbourne-based Mr Twigg, having sold his waste management business, paid the developer, John Cornell, $44 million for the pub 10 years earlier.
The Beach Hotel was constructed in the 1990s reportedly at a cost of $9 million.
Mr Cornell, an actor perhaps best known for his role as “Strop” in The Paul Hogan show, is also a producer, Crocodile Dundee being one of his credits.
The entertainer and businessman is married to Delvene Delaney, who also worked on Paul Hogan’s television show, before becoming a Blankety Blanks panel member, then Sale of the Century co-presenter.
On a 4585 square metre site at 2-10 Bay Street, the venue includes three bars, a bistro with alfresco dining, fine dining, beer garden and bottle shop, 25 hotel rooms, a swimming pool and conference facilities.
Rights to run the restaurant are also on offer – the sale listing coinciding with the end of a 12-year lease to Melbourne-based hospitality figures John and Elke Van Haandel.
IIG removed 15 electronic gaming machines from the Beach Hotel early last year.
In June, we reported that a warehouse converted office on the banks of the Maribyrnong River in Melbourne’s Footscray. acquired by IIG for $13.5 million in 2015, was sold by one that company’s former directors, Chris Lock, for $33.1 million after a renovation.