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News release


Bondi Icon Sold

JLL are delighted to announce the sale of Hotel Bondi

JLL Hotels & Hospitality Group are delighted to announce the sale of Hotel Bondi, one of Australia's most famous hotels and a Sydney beachside icon, to a private local hotel group.

Under the same family ownership for nearly 44 years, the hotel enjoys a spectacular location overlooking internationally acclaimed Bondi Beach and is arguably Bondi's most recognised landmark. The existing four-level hotel, the was recently renovated at a cost of $6 million and includes 37 ensuite hotel rooms, ground floor bar, bistro, gaming room with 30 gaming machine entitlements, bottleshop and 12 car spaces. It was also mooted to have significant redevelopment potential following along the same lines as many alternate-use real estate asset plays.

The sale process was keenly contested and attracted 14 bids from around the globe. "Bidders included local and offshore developers, accommodation hoteliers, publicans and domestic and overseas high net worth investors," said John Musca, National Director – Pub Investment Sales, JLL Hotels & Hospitality Group. "The residential conversion opportunity was compelling as was the hotel business proposition, so the market as a whole recognised it for what it was, a truly generational asset." Musca suggested.

Bondi is in the midst of a significant transformation and the hotel is strategically situated adjacent to the converted former Swiss Grand Hotel opening in 2015 as the world-class Pacific Bondi Beach luxury apartment / boutique hotel and hospitality development. "Demand for sites for residential conversion and redevelopment continues unabated across the capitals, so strategically located properties are well placed to harness this wave of equity presently." said JLL Capital Markets Director James Aroney.