The Brookvale Hotel car park development site has been sold by the Kelly family in a deal said to be about $15 million.
The Australian Financial Review reported the sale was to local developer DevelopmentLink. The Kelly family own several Sydney hotels.
The 3456 sq m site has DA approval for a 73-apartment five-storey mixed-use development.
The Northern Beaches property was marketed by JLL with the DA also including six Soho apartments, retail and office floor space and basement level car parking. The site offers two street frontages including Old Pittwater Road and Roger Street.
The land used as a car park is surplus to the hotel’s needs and approval was given following five years of planning and council consultation.
Many of the residential apartments will benefit from water views.