The Bower Byron Bay hotel sold by CBRE to Gold Coast-based investor
Contact
The Bower Byron Bay hotel sold by CBRE to Gold Coast-based investor
The Bower Byron is the first hotel sale negotiated during Australia’s COVID-19 period, sold by Wayne Bunz and Hayley Manvell of CBRE Hotels.
-
CBRE HotelsThe Bower Byron Bay
Byron Bay's newest luxury boutique hotel, The Bower, has been snapped up by a Gold Coast-based investor with interests in real estate and hospitality.
CBRE Hotels’ Wayne Bunz and Hayley Manvell negotiated the sale for an undisclosed sum, which establishes a new record price per key for the region.
At a glance:
- Sold for an undisclosed sum, a record price for the region
- Sold by CBRE Hotels’ Wayne Bunz and Hayley Manvell
- 28 guest rooms on approximately 4,495sqm Bangalow Road landholding
- "This is the first Australian hotel sale to have been negotiated and exchanged during the pandemic period..."
The Bower Byron Bay. Source: CBRE Hotels.
Featured in Conde Nast’s “Traveller Hot List 2018, the near-new hotel offers 28 guest rooms on a large 4,495sqm Bangalow Road landholding.
The hotel has made a name for its relaxed ‘New York meets barefoot Byron’ décor and ambience, including an award-winning circular swimming pool.
The Bower Byron Bay. Source: CBRE Hotels.
The Bower is the latest in a series of Byron Bay hotel transactions, with more than $170 million in properties changing hands in the past 12 months, including the $42 million sale of the Byron at Byron.
CBRE Hotels’ National Director Wayne Bunz said The Bower campaign had attracted global interest, specifically from investors in the United States, the Arab Emirates and the Asia Pacific region.
The Bower Byron Bay. Source: CBRE Hotels.
“While Australia has long been viewed as a politically and economically safe investment destination, there has been an added focus in recent months on the country’s response to COVID-19,” Mr Bunz said.
“This is the first Australian hotel sale to have been negotiated and exchanged during the pandemic period, highlighting continued confidence in leisure and boutique hotel investment opportunities.”
The Bower Byron Bay. Source: CBRE Hotels.
CBRE Hotels’ Hayley Manvell added; “Investor demand in this sector of the hotel market has been buoyed by the potential transfer of the 10 million Australian outbound visitors last year to the domestic visitor market. Australia’s regional and leisure hotels are leading the recovery, particularly those hotels in popular ‘drive markets’ such as the Gold Coast and Byron Bay.”
Ms Manvell said this trend was expected to continue in the short to medium term, which was underpinning interest in available opportunities.
Similar to this:
The Bower Byron Bay, New York-inspired Byron hotel to be listed for sale
