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Andrew Jolliffe, Managing Director of HTL Property, said, "We have been tasked with managing an international sales process for a very important element of the history of the Australian hospitality industry, and the successful results of the program on the market reflect the level of interest and the generational value inherent in this prestigious badet. "
"Many local, interstate and international investors have been strongly questioned for the right to acquire this unique badet, and the successful bidder has identified the unique opportunity to create a price history. badet clbades, "advised Jolliffe.
This multi-level waterfront hotel, spread over approximately 2,000 m², was marketed by renowned retailers John Singleton, Robert Whyte, Arthur Laundy and Mark Carnegie.
"We are delighted to have acquired what is, in every sense, the best Australian hotel in the form of the iconic Hotel Steyne de Manly," said Iris Capital founder Sam Arnaout.
Click here to see the website of Iris Capital.
"This positions our company, Iris Capital, as the true hospitality leader in this part of the world, and complements our macro-coastal investment strategy with respect to historic projects such as the $ 700 million development. in East Newcastle, where we have proudly announced Hospitality & Entertainments The QT brand as an "accommodation operator," said Mr. Arnaout.
"Dealing with business people as extraordinary as Arthur Laundy is always a thrill, and our young company is now eager to take over and advance the vision that he and his tremendously successful partners had originally envisioned. in this irreplaceable property "concluded Mr. Arnaout.
"We are very pleased to have represented our valued clients in this transaction, and stated that the badet clbad remains well funded, resourced and supported by transaction participants, such as those involved in the transaction process. sale, "said Dan Dragicevich, national director of HTL Property. .
"We are always reluctant, at the professional level, to comment on specific transaction metrics, other than to confirm that the successful price from the process met expectations before the campaign. and was supported by several selected parties, "said HTL Property National Director Dan Dragicevich.
"When we are considering the Steyne Hotel sale in the context of our recent key transactions in several states nationwide this year, we still believe that the strength and depth of the market are not only positive but also serve to wrap an already strong badet. clbad "concluded Dragicevich.
Related reading:
Newcastle's publication portfolio sold to Iris Capital for $ 30 million
Iris Capital buys a fourth Newcastle pub, Shaft Tavern
Woollahra Hotel and Bistro Moncur for sale by Public House Management Group
See other hotels in Sydney for sale:
Sydney CBD Hotel Veriu Central for sale – Colliers International
Sydney CBD hotel for sale – Hotels JLL and Knight Frank
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