The Sheraton Grand Mirage Resort on the Gold Coast has officially hit the market with a price tag of more than $200 million, as co-owner, embattled casino operator Star Entertainment Group, looks to further strengthen its balance sheet.
The JV partners acquired the hotel for $140 million in early 2017 with Star tipping $40 million of equity into the deal at the time. Standing on a 3.45ha site across two parcels of leasehold land and offering more than 215 metres of beach frontage, the Sheraton Grand Mirage was one of two Mirage resorts – the other at Port Douglas – developed by the late businessman, Christopher Skase, before the collapse of his business empire and exile to Spain.
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