Browse all categories | Subscribe My Account | Logout
Browse all categories
< Back

Big sale for Little Albion as Australia’s newest boutique hotel changes hands

The Property Addict / Architecture & Design

Australia / Brisbane

Oct 15 2018

Add to Favorites

Share this Article:

Australia’s newest boutique hotel, the 35 room Little Albion Guest House in Sydney’s Surry Hills, has been sold to GA Group Australia, trading as Crystalbrook Collection.

CBRE Hotels’ National Director Wayne Bunz handled the off-market sale on behalf of 8Hotels. 

 “This sale highlights the strong investor demand for quality hotel investment opportunities in Sydney and the continued trend for investors looking for a more bespoke and boutique hotel offering,” Mr Bunz said

 “The sale achieved a record price per key for any Australian hotel when considering it’s a rooms-only property with no function rooms, restaurant space or car parking.”

Little Albion Guest House Hotel was designed and developed by Paul Fischmann, founder and owner of 8Hotels. It is housed within a unique heritage building constructed in 1910 as a former school convent and painstakingly transformed into a premium 5-star hotel offering, merging a heritage listed building with new construction.

The hotel is located in the popular inner Sydney suburb of Surry Hills, which is largely devoid of quality accommodation.

GA Group and Crystalbrook Collection Chief Executive Mark Davie said; “Crystalbrook Collection is delighted to add Little Albion to its collection of hotels and resorts. Each of Crystalbrook Collection’s properties have a unique style and personality. Little Albion’s intimate, unpretentious approach, paired with its unparalleled Surry Hills location makes it an excellent investment for our group.”

8Hotels’ Paul Fischmann said; “I never intended to sell Little Albion. We spent three years building it for the long term and it was a very personal project to me, but Wayne Bunz from CBRE approached with an offer I couldn’t refuse.”

SOURCE:

img

You may also like...


Load More

bannerImage
bannerImage

Login into your MP Report account

Forgot my password

Sign up to the MP Report

Creating an account with MP Report allows you to save articles and update your preferences to filter the content based on your interests and what content you would like to receive from us via our email alerts and newsletter.

SIGN UP HERE >