Beachfront Pub on the market
The idiosyncratic Kingscliff pub, the Salt Bar, is up for sale.
The beachfront bar and bistro, sitting on 1883 square metres in the middle of Salt Village, only 20 kilometres from the Queensland border, has quite a legacy.
The pub opened in December 2004. The late developer Brian Ray had a vision. He wanted to make it the centrepoint and gathering place for $1 billion Salt Village community that he had created. And it’s quite a community too, boasting over 500 homes and three beachfront resorts. With a total of 650 keys, it provides solid year-round trade for the venue.
The Salt Bar features a public bar, bistro, sports bar with Keno and TAB, along with a gaming lounge and bottle shop.
Ray’s children, Savannah, Tom and Jack Ray, who remain the freehold owners of the Salt Bar and the Village, are selling the leasehold.
Brian and Kathy Ray and pilot Russell Lee tragically died in July 2005 after the light aircraft they were travelling in crashed in the snowbound landscape of Mount Hotham.
An expressions of Interest campaign will close on Wednesday 7 September 2016 at 3pm.
Tom Ray said the decision to sell was totally strategic. Selling the pub would allow the Ray Group to build its core business in property development and investment.
The Salt is being marketed by Ray White Hotels and Ray White Hotels managing director Tony Bargwanna said market conditions for hotel assets were now perfect.
He said the Salt Bar represented a unique opportunity on the east coast.
“There hasn't been an absolute beachfront bar and bistro leasehold available for quite some time, and the fact that Salt Bar is an established business with a captive residential and holiday market adds significant appeal, as does the venue's proximity to the Gold Coast and Byron Bay markets.” Mr Bargwanna told The Shout.
by Leon Gettler, 1st August 2016
