One of Sydney's most famous hotels, the Hotel Bondi, is on the market. JLL was tapped by the seller to handle the sale. The 37-room property last went through a renovation in 2013 at a cost of $6 million. It's located in the middle of Campbell Parade overlooking Bondi Beach.
"It's arguably Bondi's most recognized landmark and certainly the most aspirational hotel operating opportunity we've ever offered," said John Musca, national director, investment sales, JLL Hotels & Hospitality Group.
Bondi, reportedly, is in the midst of a significant transformation and the hotel is strategically situated adjacent to the soon-to-be-completed Pacific Bondi Beach, a luxury apartment/boutique hotel and hospitality development.
"These quality developments along with the Investec 'Beachhouse' luxury apartment and retail complex next door, point to mixed-use conversion as a viable alternative use of this extraordinary property." said James Aroney, director, investment sales, JLL Capital Markets. "With the sale of the penthouse luxury apartment at neighbouring Pacific Bondi Beach for $21 million reflecting a rate of $41,000 per square metre, residential demand for the location cannot be ignored."