The Intercontinental Hotel Double Bay sold for circa $180m to an apartment developer Fridcorp by The Agency
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The Intercontinental Hotel Double Bay sold for circa $180m to an apartment developer Fridcorp by The Agency
The Agency’s Steven Chen is understood to have negotiated the deal on behalf of its owner Shanghai United, who’d bought it for $140m just two years ago. The buyer is understood to be Melbourne apartment developer Fridcorp agreed the deal on Friday.
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IHGThe Agency’s Steven Chen is understood to have negotiated the deal on behalf of its owner Shanghai United, who’d bought it for $140m just two years ago. The buyer is understood to be Melbourne apartment developer Fridcorp agreed the deal on Friday.
The Agency’s Steven Chen is understood to have negotiated the deal on behalf of its owner Shanghai United, who’d bought it for $140m just two years ago. The buyer is understood to be Melbourne apartment developer Fridcorp agreed the deal on Friday.
It is understood a number prominent developers had been also interested in purchasing the hotel as a development site.
It was reported back on 28 May 2017 in The Hôtel Conversation that a sales process led by Craig Collins of JLL Hotels and Hospitality Group, and Richard Abbott of Holman Fenwick Willan concluded with Zobon Real Estate Group Co.Ltd and Shanghai United Real Estate Inc purchasing the luxury hotel for $140 million from Singapore’s Royal Group.
The luxury hotel sprawling over 3,670sqm in the harbourside precinct of Double Bay, originally opened as a Ritz Carlton Hotel in 1991 and was subsequently rebranded as the Sir Stamford Double Bay in 2001. After its closure in 2009, the Hotel was extensively refurbished and renovated and reopened in November 2014 as the InterContinental Sydney Double Bay.
Over the years the hotel hosted world leaders, celebrities and royal families. Apart from 140 rooms and suites, including an impressive Royal Suite which spans 167sqm, the hotel also offers extensive conferencing facilities, restaurant and bar, a spectacular rooftop pool and bar, six retail tenancies, a circa 156 space underground public car park, a spa and 24 hour gym.
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