JDA Collective buys NSW South Coast hotel
JDA Collective has bought a beachfront hotel on the NSW South Coast – outlaying a speculated $44 million.
The Stevens Group offered the Headlands Hotel at Austinmer, about 15 kilometres north of Wollongong.
On 6835 square metres at 1 Yuruga Street, the property includes a bar, bistro, gaming room, event spaces and guest suites.
It was rebuilt in 2015 after being closed three years earlier because of safety concerns.
Then, the asset had six electronic gambling machine entitlements.
Now it has 14.
The property has also been the subject of several redevelopment applications; in 2004 it was permitted for 69 serviced apartments while five years later, a spa-resort with 18 suites was approved.
Feros family reweighs portfolio
The deal – sources speculate it will settle this quarter – comes five weeks since we reported the Feros-family backed JDA sold the Gold Coast Tavern (continues below).
That buyer was the Irvin Hotel Group for $25m.
Three months earlier meanwhile JDA divested the Peakhurst Hotel in Sydney.
In May the group outlaid $70m for the freehold going concern to the enormous Bexley North Hotel, again in the NSW capital.
“We’re pleased to announce that Headlands Hotel on Austinmer Beach is joining the JDA Collective portfolio,” a spokesperson for the company said.
“Located in an incredible beachfront position…Headlands is a well-established destination for dining, accommodation, weddings and events,” they added.
“This acquisition marks another exciting chapter in the continued growth of JDA Collective,” according to the representative.
“We look forward to building on the venue’s strong reputation and working together to continue delivering memorable experiences for the local community and visitors to the region”.
Also this week realestatesource.com.au reported Ben May bought Newcastle’s Merewether Surfhouse leasehold for c$27m.
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