Friday 18 December

Treetops owners expanding the empire

Hotel and hospitality tycoon Michael McFie will take control of Melbas on the Park after the company which ran it collapsed in June 2008, owing close to $76 million. He emerged this week as the mystery buyer of the city’s best-known nightspot in a deal said to be worth $16.5 million.

Mr Michael McFie has owned hotels, pubs and clubs around Queensland and he has an impressive multi million dollar portfolio of properties around Hope Island, Ephraim Island and Paradise Point.

One of his companies also controls Port Douglas’s Treetops Resort and Spa, as well as Agnes Water Tavern in Central Queensland and he made headlines earlier this year when he purchased Tasmania’s Cradle Mountain Lodge for $21m.

Michael yesterday said he was looking forward to taking over Melbas.  He said Melbas was his first Gold Coast purchase and that he would leave the venue as it was.  In his typically low key style, "If it ain’t broke, don’t try to fix it," he said. "We are very excited about the whole thing."

CB Richard Ellis agents Craig Harley, Mark Witheriff and Joel Fisher negotiated the sale for receivers Jamie Harris and John Cronin from McGrath Nicol.

The McFie purchase will be subject to statutory approvals, including one from Queensland Liquor Licensing and one from the building’s bodies corporate.  The sale includes the land and the business.