Property developers acquire Broadbeach's Beach Hotel

Katherine JimenezSeptember 17, 2013

Brisbane property developers Anthony Moreton Group and Pryde Group have acquired the Beach Hotel in Broadbeach and two adjoining properties for $6 million.

The joint venture partners bought the 1,768 square metres property, at 2663 Gold Coast Highway, along with the two adjoining vacant parcels of land with a view to redevelop the site over the next few years.

The three properties have a combined area of 2,982 square metres and were taken to the market as one offering by vendor Rothmont Projects - a company owned by Gold Coast developer John Fish.

The total site has council approval for a 35-storey, 198 apartment complex.

Selling agent Darrell Irwin and Brad Johnston of Colliers International said the properties drew strong interest from a range of buyers, including Chinese investors and developers.

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