NEWS PROPERTY

Shakespeare Property Group, part of Melbourne-based fund manager PrimeValue, has acquired the newly opened Peppers Marysville hotel Victoria’s Yarra Valley. The 101-room hotel was developed by Accor in collaboration with the Victorian government after the 2009 Black Saturday bushfires. It features 101 modern guestrooms as well as a conference centre and a wellness centre. Paul Burns from Fitzroy brokered the sub-$10 million sale.

Colorado-based tourism investor KSL Capital has fought off a slew of equity firms to buy the Four Points by Sheraton, Sydney at Central Park from private ­hotelier Jerry Schwartz in one of the year’s largest hotel deals. KSL Capital, which also controls the Baillie Lodges portfolio including Longitude 131 in the shadow of Uluru, and New Zealand’s oldest and most celebrated luxury accommodation, Huka Lodge, is believed to be in exclusive arrangements to pay about $151m for the 297-room hotel, which Marriott will continue to operate under a long-term management contract.

An iconic wedding destination that attracted the likes of former Home and Away starlet Kate Ritchie and boasts a nine-hole golf course is up for grabs in a lucrative sale offer. Quamby Estate at Hagley is a historic property dating back to 1828 and is a popular location for Tasmanian weddings. It was the former home of Sir Richard Dry, the first Australian-born state premier and the first Australian recipient of knighthood. Since then, Quamby Estate has remained one of Tasmania’s most desirable private homes, with 10 bedrooms and a private nine-hole golf course, with its own clubhouse in the converted stables. Knight Frank Northern Tasmania partner Sam Woolcock said the estate would be put up for sale in a national and international expressions of interest process.

A Brisbane property and retail entrepreneur has snapped up one of the Sunshine Coast’s favourite pubs with arguably Noosa’s best views. Sources at the auction said Greg Josephson paid $13.9m under the hammer for the two-storey Noosa Reef Hotel which sits on an expansive 5069sq m site. Based in Brisbane, Mr Josephson with his brother Michael founded Universal Store in 1999 with a their first store in Carindale. They built up an Australian-wide network of 53 stores before selling out to a consortium of private equity investors in 2018 for $100 million.

Potential buyers are finally teeing off on a 9-hole golf course that has been on and off the market for several years on the Sunshine Coast. Tanawha Valley Golf and Tennis is on the market for $2.55m. The 7.76 hectare property at Palm Creek Road has been on and off the market for the past few years with several agents acquiring the listing. The property boasts a large four-bedroom home with a pool, two tennis courts and a par 3 golf course. Attached to the house is the pro shop, cafe, bar facilities and a small office area. The current owners have been operating the course for the past 17 years with retirement now on the cards.

Henderson Park has been placed on the market for the first in its 24-year history. The popular wedding and function venue located between Yeppoon and Rockhampton, is being offered for sale by expressions of interest. Set up as an authentic country retreat, the 14 hectare property is situated on the banks on Hedlow Creek and overlooks a flood plain and mountains. The property has accommodation for up to 25 people, with a modern lodge complex and two quaint pioneer style cabins, plus camping grounds.

HTL Property has sold The Royal Oak Hotel in the Hunter Valley Town of Cessnock. The Freehold interest in the property was sold by HTL Property’s Blake Edwards and Xavier Plunkett, on behalf of the Vendor. The hotel was purchased by a private investor who also owns two other Hunter Valley freehold hotels within his diverse and varied portfolio of regional property assets.

Up to $270 million is expected for the Rydges Sydney Airport Hotel in what may be the Australian accommodation industry’s biggest single asset sale of the year. It is the first time the 318-room property has been on the market since it was developed by well-known Sydney businessmen Phillip Wolanski, David Baffsky and John Landerer in 2013. The sale has been timed to coincide with the resumption of international flights to New Zealand, although there is no short-term operating benefits for the property, which is currently a quarantine hotel for flight crews only. Industry analyst STR said average occupancy in the Sydney Airport hotel market has averaged 36 per cent so far this year, while average revenue per available room is just above $46. The property is being sold with vacant possession if required and the marketing campaign by JLL and CBRE is expected to attract significant domestic and international interest. Wayne Bunz from CBRE said he expected the hotel to sell for a yield of between 5 per cent to 5.4 per cent.