Luxury beachfront hotel in Surfers Paradise goes to market
A luxury beachfront hotel on the Gold Coast has been put up for sale after the developer received council approval for a 15-storey tower.
Headed by Lawrance Ryko, Sydney-based property syndicate CCS Property has organised the development deal after buying the Anglesea Court in Surfers Paradise for $16 million last year.
The Council has just approved the development application for CCS Property’s ‘Garfield Hotel’ project which includes a 15-storey hotel with 112 rooms, three penthouses and ground floor retail.
CCS Property is looking for offers around the $20 million mark for the hotel and freehold, with the expressions of interest campaign run by JLL.
Two hotel operators including Los Angeles-based hotel operator Sbe are in negotiations to take on a management agreement or lease in the project.
“The Garfield Hotel will join the exclusive club of absolute beachfront positioning on the Gold Coast, with only the Sheraton Grand Mirage Resort and the under-construction Langham Hotel,” said JLL Hotels & Hospitality senior vice president Tom Gibson.
The expressions of interest campaign for the Garfield Hotel closes Tuesday 31 March.
Sheridan Randall, 3rd March 2020
