Set beside Budgewoi Lake, the Beachcomber- or Beachie- as it is known to locals, changed hands for the first time in 25 years.
Its new owners Oscars Hotel Group will relaunch the hotel as a “cool new beach club and resort venue.”
Sydney-based hotelier and former Rothschild managing director David Kingston sold the “Beachie” in Toukley in an off-market sale.
Given Australians are expected to holiday closer to home thanks to the global pandemic, Oscars Hotel Group will relaunch the hotel as a new beach club and resort venue, marketing the property as a “hip weekend getaway, less than 90 minutes from Sydney”.
Located between two great lakes and minutes from the Pacific Ocean, the Beachcomber has nearly 100m of lake frontage and its own private pier.
It will be relaunched as a 4-star, 80-room resort offering indoor and outdoor bars, restaurants, six function rooms, gaming and bottle-shop facilities.
The property will also have guest facilities including a pool, sauna, gym and wellness services on its 1ha site.
JLL’s managing director John Musca, who managed the deal, said the pandemic had generated trading challenges and opportunities.
“The weight and diversity of capital remains strong for the hotels nationally at present and, although not indiscriminate, suitors are evident across the board for investments within the highly protected and resilient asset class,” Mr Musca said.
The Beachcomber was seen a major trendsetter for the old Wyong Shire and was tipped to be the start of a rush of resorts for the area. Sadly, the rush never came but the revamped hotel will put Toukley back on the map as a tourist destination.
Sources: Urban Developer, media releases
