Byron Bay Resort & Spa put on the market by Gerry Harvey
Retail billionaire Gerry Harvey has put the Byron at Byron Resort & Spa on the market for the first time since its opening in 2005.
Set on 45-acres of subtropical rainforest, the luxury hotel is expected to fetch somewhere between $40 million and $50 million.
The sale is being managed by CBRE Hotels’ Wayne Bunz and Andrew Jackson.
“The luxury resort is owner-operated, and with no international branded resort existing in Byron Bay to date, we expect there will be a number of world-renowned leisure brands eager to enter this tightly held market,” Jackson said.
Local environmental protection laws make it harder for new accommodation offerings giving the sale a unique point of difference, according to Bunz.
“Acquiring a land parcel and gaining the necessary approvals to build this type of asset in Byron Bay is notoriously difficult, and approvals of this nature may never again be repeated in the area,” Bunz said.
The Byron at Byron features 92 suites, a one-hatted restaurant, conference centre, infinity swimming pool, tennis court, gymnasium, lobby retail shop and day spa.
The only expression of interest campaign ends July 10.
Sheridan Randall, 6th June 2019
