JEWEL OF THE CANE FIELDS UP FOR SALE
THE Jacobs Well Bayside Tavern, which has undergone a $2 million-plus expansion and upgrade under its owner for the past 11 years, has been put on the market.
The move has been made by Craeve, a company associated with long-time chef Craig McVean and Melbourne business partner Evelyn Butterss. Mr McVean said his passion was buying hotels, “redoing’’ them, and moving on.
“I think I’ve got another big challenge left in me so we’re testing the market with the tavern.”
Mr McVean said turnover at the Jacobs Well property had more than doubled since it was bought in 2009 in a $4 million plus deal.
The tavern, in the heart of Jacobs Well opposite the tourist park and council boat ramp, is tagged “the best little pub in the cane fields’’.
Mr McVean said it was a major dining venue for people in the area and could seat 240 people — 140 in the dining room — in normal times.
The Craeve investment in improving the tavern has included a doubling of the size of the gaming room, a state-ofthe-art kitchen, outdoor beer garden, and a children’s playground.
The tavern, which has a TAB and keno area and a bottle shop, is being offered via expressions-of-interest through Ray White Commercial Gold Coast’s Greg Bell, Ross McVean and Scott Wells.
Mr Bell said the tavern was on the doorstep of major growth areas such as Pimpama and Coomera. “It fills a growing need from residents in those areas for a tranquil country-like venue, as the growth in turnover illustrates.
“The popularity of the setting close to the water, together with the ambience of the single-level property, means the growth trajectory should continue,” he said.
Expressions of interest close on October 22.