HTL Property, in conjunction with Stonebridge Property Group, have been exclusively appointed to offer for sale the 5-star SKYE Suites Sydney and Our Skittle Place Retail - located in Sydney CBD.

 SKYE Suites Sydney comprises a 73 room serviced apartment complex operated by Crown Group under the SKYE Suites hotel brand; which commenced operation in November 2018.

The outstanding offering includes ‘Our Skittle Place’ Retail precinct, comprising six retail outlets located on the ground floors of the development; providing approximately 918sqm of lettable area, anchored by national operator Soul Origin.

 The landmark property is prominently located in the Central Sydney business and tourism precinct; and forms part of a larger 25 storey mixed-use development known as Arc by Crown, which includes 173 residential apartments, retail / commercial venues, basement car parking and a rooftop terrace.

 The property is currently owner operated under the SKYE Suites brand, which forms part of the Crown Group. However, the property is being offered for sale with either the brand and management or vacant possession, providing an incoming purchaser with the opportunity to rebrand the hotel to an internationally recognised serviced apartment or hotel operator.

 Andrew Jackson, National Director of HTL Property’s Accommodation Business anticipates strong interest for this offering. 

“Hotels in Sydney city are historically and for good reason tightly held and as such rarely come to market. This extraordinary hotel is offered for sale enjoying rare vacant possession optionality. Therefore, creating the opportunity for an incoming purchaser to rebrand the hotel to be internally managed, or contracted by an internationally recognised serviced apartment / hotel operator with the reservation and marketing systems in place to successfully manage a 73 room serviced apartment property in a prime Sydney CBD location” advised Andrew Jackson.

 “The hotel is a simple operation, with income predominantly derived from rooms revenue, which typically provides a more profitable operation” added Jackson.

 “Both the serviced apartment offering, in addition to the superb location of the asset in the Sydney CBD; renders the property equally suitable for both the corporate and leisure markets. The serviced apartment product offering is generously sized, with entry level studios at approximately 37.6sqm; holding broad market appeal” Jackson advised. 

 “Our Skittle Place retail precinct provides for six strata retail tenancies located across the ground levels of the development, ranging in size from 61 square metres through to a 442 square metre tenancy that is currently vacant”  advised Stonebridge Property Group’s, Lincoln Blackledge.

 “There is approximately 918 square metres of lettable area included in the sale, with bids being sought either for the individual tenancies, or as an ‘in one line’ acquisition, with the same being the case for the overall offering of the hotel and retail components” Blackledge added.

 “This particular precinct has benefited hugely from recent development, and we expect the retail investment sector to recognize the opportunity that exists here; being immersed within so many demand drivers, including the hotel” concluded Blackledge.

 The Sydney CBD hotel market continues to strengthen in early 2025, building on the momentum observed throughout 2024. Recent STR data for January 2025 (Sydney TR) shows substantial improvements in key performance metrics across the key indicators of occupancy, average daily room rate (ADR) and revenue per available room (RevPAR).

 “We wholly expect the stronger trading performance to be reflected in augmented investment momentum and further growth throughout 2025. The Sydney accommodation market remains one of Asia Pacific’s most sought-after hotel investment markets, historically outperforming all other Australian capital cities” concluded Jackson.

Syke Suites Sydney is for sale via an exclusive Expression of Interest campaign, closing at 4pm on 30th April 2025.