Manly’s Q Station sold to local publican
The leasehold to Manly’s Q Station has sold for a speculated $15 million.
The buyer, Glenn Piper, operates the Harbord Hotel at Freshwater Beach, about four kilometres away.
On 30 hectares, his latest asset contains a 105 room hotel, multiple food and beverage outlets and a private beach.
It hosts guests, events and history and ghost tours.
The leasehold was offered by Mawland, directed by Suzanne Stanton and Max Player, who took it over 13 years ago.
It runs until November 30, 2050, though an extension can be negotiated with the land owner, the National Parks & Wildlife Service.
“This is an incredibly special asset and I am absolutely thrilled to be given the opportunity to operate Q Station and enhance its offering,” Mr Piper said (story continues below).
Q Station
Thirteen bids – from a mix of local and offshore operators – were made for the Q-Station at 1 North Head Scenic Drive; at the time it was listed, agents speculated Justin Hemmes’ Merivale, Matt Moran and Oscars Hotels could look in.
“There is no doubt the nature of the offering with a hospitality and tourism focus appealed to all investor types,” according to HTL Property’s Andrew Jackson, who marketed the asset with colleague Nic Simarro and CBRE’s Tom Gibson and Vasso Zographou. “Given the timing of the offering through New South Wales’ harshest lockdowns, it was incredible to see the level of confidence from the market”.
Ms Stanton and Mr Player added the property “is ready for a new layer of history” and value-adding Mr Piper is expected to carry out at the property.
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