Receivers put Surfers Rowers Hotel on Gold Coast up for sale

The former Surfers Rowers Hotel at Bundall has been listed for sale under instructions from receivers and managers. 

The restaurant and function centre on the Nerang River stopped trading last month after receivers were appointed to property owner, Brisbane-based Alfanian Pty Ltd. 

According to RP Data records, the hotel was acquired by Alfanian for $2.88 million in July 2006. 

The Gold Coast Bulletin reported that business owner Mario Sherri had looked into buying the property in August last year until a valuation found that it was worth half of the agreed price.

The sales campaign is being steered by Glenn Price and Joel Fisher, of CBRE Hotels. 

The 150 Bundall Road property stands of 3,145 square metres of riverfront land across two titles and is two kilometres from the Surfers Paradise CBD. 

“The campaign is expected to generate significant interest from both owner operators and investors,” says Price. 

“The large site area means it could also be a land bank play for a developer who could potentially look to lease the site while pursuing planning approvals.” 

Situated on the corner of Bundall Road and Holden Place, the site currently comprises a two level building overlooking the Nerang River. The property has approval for 40 gaming machines, although no operating approvals are included in the sale. 

There is a split level public bar, a covered alfresco deck area, a formal restaurant,  a first floor function room and two large commercial kitchens. 

Adjoining the property are two additional parcels of land which are currently used for car parking. 

The properties are available to be purchased in one line or separately. 

Expressions of interest close at 4pm on April 4.

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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