WE’LL DRINK TO THAT PURCHASE
Prominent hotelier Tony Burnett is toasting an expansion of his holdings in the heart of Surfers with a $1.45 million property buy next to his Irish pub
HOTELIER Tony Burnett is adding a sliver of land to his holdings in the heart of Surfers Paradise in a $1.45 million deal.
He is buying a 286sq m property next to his Waxy’s Irish Pub in Surfers Paradise Blvd from developer Ron Bakir.
The vacant land is a remnant of the large holding on which the Sunland Group completed its Circle on Cavill twin towers and retail commercial area in 2007.
The land, at 3216 Surfers Paradise Blvd, was put on the market by Sunland in late 2017 and purchased by Mr Bakir for $1.342 million in early 2018.
At the time he was planning a three-storey building with groundfloor retail space, offices, and a rooftop bar.
Mr Bakir yesterday said that he elected to sell because the market, in the wake of COVID-19, had changed.
The sale comes on the heels of Mr Bakir and two partners selling a nearby six-floor Cavill Ave office building for $6.1 million.
Waxy’s owner Mr Burnett said he had no immediate plans for the exBakir land but that “down the track” it would be used for hospitality purposes. The Gold Coast-based hotelier bought the two-level Waxy’s building in 2004 from Brisbane investor Peter Harburg for $10.55 million.
The two-level building, which has a rooftop bar, is on a 1006sq m site at 3206 Surfers Paradise Blvd.
Mr Burnett’s Gold Coast businesses include the Railway Hotel at Southport, the Pimpama Tavern, and 13 TB’s bottle shops.
In Brisbane, he has a major redevelopment of the Jubilee Hotel under way.