Sydney’s iconic Q Station at North Head in Manly has sold to northern beaches hotelier Glenn Piper in a deal brokered by CBRE Hotels and HTL Property.
Mr Piper, owner of the Harbord Hotel at Freshwater Beach, will take over the leasehold interest from current owner Mawland subject to formal approval from the National Parks & Wildlife Service (NPWS).
“This is an incredibly special asset and I am absolutely thrilled to be given the opportunity to operate Q Station and enhance its offering,” Mr Piper said.
Q Station is a diverse hospitality venue, encompassing a 105-room hotel, multiple F&B outlets, and expansive grounds with its own private beach fronting Sydney Harbour.
Mawland Directors Suzanne Stanton and Max Player, who commenced operating Q Station in 2008 under a lease from the NPWS said, “Q Station is ready for a new layer of history and we are excited to see value added to the property and operation under the care of its new leaseholder, with a continued focus on complying with the needs of the local community, which over the years has taken Q Station to its heart.”
The leasehold sale was negotiated by Tom Gibson and Vasso Zographou of CBRE Hotels, together with Andrew Jackson and Nic Simarro of HTL Property.
“The sale of Q Station is a great example of the resilience of Sydney’s hotel investment market and the continued interest in institutional grade tourism assets,” Mr Gibson said.
The campaign extracted significant domestic and international interest with 13 bids and over 250 enquires.
“There’s no doubt the nature of the offering with a hospitality and tourism focus appealed to all investor types. Given the timing of the offering through NSW’s harshest lockdowns, it was incredible to see the level of confidence from the market,” Mr Jackson said.