Sheraton Grand Mirage Gold Coast on the market for $200m

sheraton
The Sheraton Grand Mirage Gold Coast.

The Sheraton Grand Mirage Resort Gold Coast has been put on the market by its co-owners for $200 million.

The hotel is co-owned by Star Entertainment Group, which owns 50 per cent, Hong Kong-listed developer and hotel operator Far East Consortium and Hong Kong-based conglomerate Chow Tai Fook, with 25 per cent each, who paid $140 million for the 295-room luxury hotel in early 2017.

Sam McVay and Dan McVay of McVay Real Estate, Karen Wales and Steven King of Colliers and Adam Bury and Taylor O’Brien of JLL have been appointed to broker the deal, with expressions of interest closing on April 21.

Star Entertainment Group is looking to shore up its balance sheet after taking a beating in the latest reporting season and finishing off its mega-development at Queens Wharf in Brisbane.