One of only a handful of beachfront hotels on Sydney’s famous Bondi Beach has been sold to 5th generation hotelier, Edward Ryan, by Andrew Jolliffe, Dan Dragicevich and Xavier Plunkett of leading national brokerage agency HTL Property.

Situated in super-prime position on the inimitable Campbell Parade, Topikos, a multifaceted hotel operation, has changed hands at the end of a competitive on-market process.

“Bondi Hotels are particularly rare beasts numbering only four in total, and are both consequently and unsurprisingly tightly held as a result” advised HTL Property’s Managing Director, Andrew Jolliffe.

“As such, the on-market process run was very active, and speaks to the recent surge of interest in hospitality business assets which lend themselves to more favourable return metrics than other investments might in this asset class” Jolliffe added.

“I’ve worked within and alongside my extended family in the Sydney pub market for a number of years, and look forward to continuing to do so regarding this exciting opportunity” commented successful Purchaser, Edward Ryan.

“Living locally my whole life provides me with a good perspective on where there might exist market gaps we’d like to explore; and I look forward to doing so given the solid platform the current management team have created at the hotel over a number of years” Ryan concluded.

HTL Property would not be drawn upon as to the successful sale price achieved, other than to advise that it was in line with market guidance provided throughout the campaign run.

“We’re delighted with the outcome for our valued clients, and look forward to continuing the positive market momentum in the form of other sale processes we have been retained to manage; including both the iconic Lansdowne Hotel in Central Sydney; and Roma’s Royal Hotel in Central Qld” concluded HTL Property National Pubs Director, Dan Dragicevich.