A collection of boutique hotels is up for grabs on Sydney’s Lower North Shore, with price expectations hovering around the $70 million mark.
The portfolio, owned and operated by Emerald City Hotel Group, is made up of four hotels ranging in size from 16 to 70 rooms and consisting of 142 rooms in total.
Listed with an expressions of interest campaign through CBRE Hotels, the exciting opportunity is sure to turn heads amongst investors.
CBRE Hotels Director, Tom Gibson, said: “The sale campaign presents a strategic opportunity to enter the Sydney boutique accommodation market with a platform offering scale, diversification and repositioning upside.”
The portfolio includes the budget accommodation offerings of Dalziel Lodge in North Sydney and Glenferrie Lodge in Kirribilli, as well as the more upmarket sites of Cremorne Point Manor and The Albert in Mosman.
Glenferrie Lodge’s prime Kirribilli location near the Sydney Harbour Bridge also underpins the site’s medium-term value as a potential conversion into a luxury residential development offering iconic views of Sydney Harbour.CBRE Hotels Director – Tom Gibson
The Albert Hotel is the newest addition to the Emerald City family after the heritage property received a $12 million facelift last year making it Sydney’s latest 5-star boutique hotel.
Emerald City Hotel Group CEO, Jean-Claude Branch, said: “There is something special about restoring a heritage site and breathing new life into it.”
“All four hotels were a result of positive engagement with the North Shore community and a lot of blood, sweat and tears,” he said.
Each property offers rich heritage fused with a modern twist, a hallmark of the Emerald City Group’s identity.
The location of these hotels is a distinct advantage, with each property being a short stroll to an array of leisure demand drivers, as well as a one-stop ferry trip into Circular Quay.CBRE Listing Agent – Raymond Tran
Expressions of Interest close on Wednesday, December 9.