Hotelier Julian Gerner plans to go it alone on redevelopment of Sorrento's Continental Hotel

Hotelier Julian Gerner is planning to start redevelopment work on Sorrento’s historic Continental Hotel early next year.

The plans are part of a bid to keep ownership of the $100 million project which has been dogged by setbacks.

Work on the hotel stopped suddenly in May when joint-developer Steller ran into financial difficulties, while the latest attempt to offload the project for $21 million to LBA Capital also got derailed at the last minute.

"I have negotiated an agreement to deliver on the vision to restore, renovate, protect and preserve the 1875 ‘Marvellous Melbourne’ hotel," Gerner told The Sydney Morning Herald.

Gerner has formed a new company, The Ocean Amphitheatre Company, to take control of the development, and hopes to restart building works on the pub after Australia Day next year.

He said he was targeting a “couple of key high net worth individuals” to source further funding.

Sheridan Randall, 18^th October 2019