Interest high for ‘iconic’ beachside Hotel Bondi on Campbell Pde
Hotel Bondi on Campbell Pde is for sale. Picture: hotelbondi.com.au
The historic Hotel Bondi located along the foreshore of Australia’s most famous beach has been listed for sale.
Built in 1919, the historic landmark has been owned by the family of renowned publican Cyril Maloney for 44 years.
Selling agent John Musca of JLL, said there had been a huge amount of interest in the four-storey hotel.
However, he said reports of the hotel for around $40-$45 million were incorrect, and the property would sell for a significantly larger amount.
“There is not another hotel that is as iconic in Sydney or even nationally,” Mr Musca said.
“It is part of the Australian and Sydney landscape.”
He said the hotel was of high interest in booming Bondi, as it was flanked either side by luxury residential, hotel and retail developments.
The huge potential and unique quality of the Campbell Pde hotel meant it was difficult to put a price on the property.
Bondi Beach has developed a reputation as a property hot spot with half a billion dollars worth of new luxury developments now underway.
The $60 million Beachouse development, which includes top-notch apartments, designer stores and boutique restaurants, is located next door to the Hotel Bondi site.
The former Swiss Grand Hotel, also next door, is undergoing a $440 million redevelopment into a luxury apartment, hotel and retail development known as Pacific Bondi Beach.
Hotel Bondi is being sold as vacant possession but Mr Musca said there had been strong interest from hoteliers, along with investors and developers.
Source: Daily Telegraph - 24th July 2014
