Following on from the firm's recent sale of the Central Hotel in Shellharbour CBD for $25 million, HTL Property announce the sale of the leasehold interest in the iconic Ocean Beach Hotel in Shellharbour.

The Feros Group are the new custodians of the oceanfront venue; and separately enjoy the Prince Hotel (Kirrawee), Engadine Tavern, Highfield (Caringbah), Berry Hotel, Heathcote Hotel and the Taren Point Hotel amongst their burgeoning portfolio of hotels. The Group also has several other exciting greenfield hotel sites coming online over the next 2-3 years, including the highly anticipated Parc Pavilion in the heart of Cronulla.

HTL Property’s Dan Dragicevich and Sam Handy negotiated the discreet, off-market transaction on behalf of a private family who have held the property since 1992.

The Ocean Beach Hotel is an expansive beachfront venue nestled between Shellharbour North and South beaches with unobstructed views of the Pacific Ocean. It is also set to benefit from Frasers Properties $2.3 billion Shell Cove Master Planned community which is nearing completion and totals 3,000 residential lots, Town Centre, Harbour and 300-berth Marina.

Having been operated by the Dennis family for over 20 years, the Feros Group are to undertake a substantial multi-million capex program which will see the hotel reimagined as a full-service hospitality destination commensurate with the very special position that it occupies.

Feros Group Director, Chris Feros said, "We love the South Coast area having already invested heavily in the wider region through our venue at Berry and development at Bingara Gorge. The Ocean Beach is a fantastic addition to our portfolio of which we are truly excited to take the reins and have big plans which we can’t wait to share with the community”

“Scalable absolute beachfront Hotels offer unparalleled trading advantages, especially across food and beverage revenue centres, and the Feros Group’s expertise will no doubt establish the venue as a must visit for South Coast locals and tourists alike” commented HTL Property National Director, Dan Dragicevich.

This successful transaction follows a slew of other high-profile transactions executed by HTL Property within the Illawarra region over the last few years; including the Central Hotel ($25M), Five Islands Hotel ($25M), North Nowra Tavern ($23M), the Corrimal Hotel ($32M) and the Lake Illawarra Hotel ($15M).