BYRON BAY’S iconic Beach Hotel has sold for $70 million to a fund linked to one of Australia’s richest families.
The hotel has has been bought by the Impact Investment Group — linked to the wealthy Melbourne-based Liberman family.
Keen race car driver Max Twigg, who bought the pub for $44 million 10 years ago, was the vendor.
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The property was developed by Paul Hogan sidekick John Cornell and overlooks Byron Bay’s Main Beach.
Byron Bay local identity, Anthony “TP” Watego has high hopes that the new owners will allocate budget for renovations.
Anthony spoke out recently at the deteriorating condition of the Beach Hotel, still known locally as the “Top Pub”, a hangover from when the legendary Ron and Shirley Redman owned it.
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“I just hope the new owners spend a few buck on refurbushing it back to how it was when Deli and Strop owned it,” said Anthony.
“It’s become a bit of a grot-hole for piss-heads these days.”
The hotel is leased to Melbourne pub industry identity John van Haandel, who has a 10-year lease with a further 10-year option.
Story by News Ltd.
Read News Ltd’s full story here
I hope the new owners respect this much loved hotel and give it some much needed love and attention.