NEWS PROPERTY

JLL Hotels & Hospitality Group is to sell Paperbark Camp.

Sydney’s Rydges Bankstown sold to the Laundy Group for $28 million after an on-market campaign.

A pre-approved private buyer has purchased two well-known pub offerings on Thursday Island in Queensland in an off market sale negotiated by Savills Australia. The Grand & Royal Hotels represent 50% of the hotel offerings on the island and benefit from a diverse range of revenue streams, said sales agent, Leon Alaban of Savills Hotels. “Thursday Island (Waiben) is the administrative centre of the Torres Straight Islands and is home to several Australian & State government primary agency bases. “These pubs offer a secure income stream and impressive amenities in a beautiful part of the world!” The Grand Hotel is situated on a 3,280sq m* site whilst the Royal Hotel is positioned on a 4,554sq m* site, both are located in Thursday Island’s CBD.

Dunk Island has sold for an undisclosed sum to the Australian wholesale Private Equity Fund in a deal brokered by JLL Hotels & Hospitality Group’s Andrew Langsford and Nick Roche.

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.