Firm's experts counsel owners on the $100m sale of popular Byron Bay property
Arnold Bloch Leibler played a key role in the sale of a popular Byron Bay property in a deal the firm said broke records.
The business-focused firm advised Impact Investment Group (IIG) and the van Haandel family on the sale of the Byron Bay Beach Hotel to Moelis Australia. The deal, which is worth more than $100m, set a new record for the biggest pub transaction in Australia, the firm said.
Known as “Beachie” by locals, the hotel is managed by local residents John and Lisa van Haandel, who partnered with IIG since 2007. The property and the hotel-operating business were both acquired by Moelis Australia.
Partner Tyrone McCarthy, senior associate Brianna Youngson, and lawyer Emily Moreton advised IIG on the freehold sale.
Partner Ken Gray and senior associate Emily Simmons advised the van Haandel family on the sale of the operating business.
McCarthy, who described the property as “iconic,” said that the firm looks forward to advising both clients in future transactions.
The Byron Bay Beach Hotel was developed by John Cornell – filmmaker and manager of actor Paul Hogan – in the early 1990s. The project was funded mainly from the proceeds of their film Crocodile Dundee.
