Iconic Gold Coast beachfront resort on market for over $200 million

One of the most iconic hotel properties in Australia is on the market for over $200 million.

Being marketed by Colliers, McVay Real Estate and JLL, the Sheraton Grand Mirage Resort is one of the most prestigious hotels in Australia. The hotel is located on The Spit at the northern end of the Gold Coast, boasting a land area of 3.45 hectares and beach frontage of approximately 215m, making it genuinely irreplaceable.

โ€œThis presents a very rare opportunity to purchase one of the most notable hotels in Australia,โ€ Karen Wales said.

โ€œAn impressive feature of the hotel is the vista across the ornamental pools and swimming pool to the beach and the ocean, a dramatic sense of arrival which few, if any, hotels in Australia can rival.

โ€œThe 295 room hotel has a diverse income stream through its extensive conference facilities servicing a buoyant MICE market and quality food and beverage offerings.

โ€œEvery astute investor with an interest in prime Australian real estate should consider this investment opportunity,โ€ Karen Wales added.

JLL Executive Vice President, Adam Bury said the Gold Coast remained one of the fastest growing regions in Australia.

โ€œThe City of Gold Coast continues to develop and expand with an estimated resident population of over 1.2 million by 2050โ€ Adam Bury said.

โ€œThis demand has stemmed from strong interstate investment with elevated dwelling prices in both Sydney and Melbourne who are drawn to the affordability the Gold Coast provides.

โ€œThis is an opportunity to get into a surging market with an iconic Gold Coast landmark resort,โ€ Bury added, โ€œLikewise the hotel sector has seen incredibly strong post-pandemic performance across South East Queensland and especially on the Gold Coast in the five-star sector.

โ€œAs South East Queensland moves towards the 2032 Brisbane Olympics and the so called golden decade, supply and demand is expected to remain in hotel owners favour with continued elevated performanceโ€

Bury finished, โ€œThe limelight that South East Queensland has been in during the past 12 to 18months has made it one of the most sought after regions in Australia for hotel investorsโ€.

McVay Real Estateโ€™s Dan McVay said the Sheraton Grand Mirage Resort was a 5-star resort, located on 3.45 hectares of prized beachfront land at The Spit in the Gold Coast.

โ€œThe Hotel opened in 1987 and boasts extensive facilities which are operated by Marriott International under the Sheraton brand,โ€ Mr McVay said.

โ€œProgressive refurbishments have ensured that all rooms and facilities within the hotel remain at the highest of standards.โ€

Karen Wales said the rooms provided for a full spectrum of functions, with capacity ranging from the Chairmanโ€™s Room, through to the Mirage Grand Ballroom, which has capacity for a 1,000 person reception.

โ€œIn addition to these dedicated rooms there are five additional outdoor areas within the Hotel grounds which can host sizable cocktail and banquet events,โ€ Ms Wales said.

โ€œTerraces Restaurant overlooks the picturesque hotel pools and provides a stylish new dining experience for breakfast, lunch and dinner.

โ€œPearls Bar overlooks the resortโ€™s water features and the Pacific Ocean and is known for its high tea but also provides a sophisticated menu of cocktails and snacks.

โ€œOyster Bar is a more intimate bar with views over the pool and beachfront and specialises in fresh seafood and cocktails.

โ€œThe Oasis swim-up pool bar is exclusively for hotel guests and provides a casual environment for light meals, beverages and cocktails in a true resort style.โ€

The Sheraton Grand Mirage Resort, Gold Coast is an absolute beachfront international resort and is indisputably a true landmark hotel which is genuinely irreplaceable.

Expressions of interest will close on Friday, 21 April 2023 at 4pm.

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