Guesthouse changes owners in end of era
A HISTORIC Esplanade property has sold for more than $1.5 million, heralding the end of an era for a Cairns tourism visionary.
In a sign of further market confidence in the city’s accommodation sector, more than 50 inquiries were received for Floriana Guesthouse before it was snapped up by southeast Queensland investors.
Selling agent Jay Beattie of Colliers International Cairns said the new owners planned to “give the property a facelift and reposition the business”.
“It will be business as usual for the next six months with no interruption to the forward bookings taking full advantage of the strong tourist season while they settle in,” he said.
“The purchaser was immediately drawn to the historic Queenslander-style building, irreplaceable location and established business. The size of the property, from an operational hands-on perspective, makes it relatively easy and cost-effective to operate.”
Mr Beattie said the new owners had backgrounds in the construction and accommodation sectors.
Built in 1939, the two-storey building was bought by Margaret Nelson in 1986.
She went about transforming the property into a charming 10-room guesthouse, named after a picturesque town in Malta.
“Years before I bought it, I would walk past the building and imagine myself sitting on the veranda with a cup of tea in my old age,” Mrs Nelson said.
“It all came to fruition. This has been a magical place.
“And the work that’s happened on the Esplanade over the years has been just wonderful.”
Mrs Nelson, who is now 75, will remain at Floriana Guesthouse for about two more months.
She will continue living in the city and was happy for the new owners.
“As much as I’ve loved the place and living on the Esplanade, the time has come for me to step back,” she said.
The sale comes amid a surge of development on the Esplanade, headlined by GA Group Australia’s $100 million redevelopment of the Rydges Tradewinds hotel.
Rydges Esplanade hotel, just down the road from Floriana Guesthouse, was bought by Mulpha Australia last September for $40 million.