The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
2
print
Print
HotelTaryn ParisThu 15 Jun 23

Historic Potts Point Hotel on Market for $35m

More than 70 private owners of the Potts Point Central Apartment Hotel have banded together to list the historic Art Deco brick building. 

The strata-titled hotel at 15 Springfield Avenue is being sold in-one-line with vacant possession and is expected to fetch about $35 million. 

The former Bernly Private Hotel was built in 1937 by F. J. Berne and during World War II became the Bernly American Red Cross Officer’s Club. 

In 1979 it was known as The Manzil Room, an iconic Kings Cross rock music venue that hosted hundreds of gig by such acts as the Hoodoo Gurus, Paul Kelly and Pseudo Echo. 

The four-star hotel comprises 70 serviced apartments, averaging 23sq m, a ground floor food and beverage outlet and a rooftop public amenity with views of Sydney’s CBD.

CBRE Hotels’ Tom Gibson and CBRE Capital Markets’ Harry George and Angus Windred are managing the sale via an expression-of-interest campaign.

“This is an opportunity to acquire a strategic foothold in Sydney—one of Asia Pacific’s most sought-after and tightly held hotel investment markets,” Gibson said.

“Given that the hotel is offered with vacant possession, the incoming purchaser is afforded the flexibility of either partnering with one of the leading hotel managers that have expressed interest to operate it, or to alternatively run the hotel under their own positioning.

“Sydney has welcomed multiple iconic boutique hotels in recent years, and with a thoughtful renovation Sydney Potts Point Central Apartment Hotel has the ability to establish itself as a leading boutique hotel with its excellent connectivity to the Sydney CBD and surrounding demand drivers.”

CBRE Capital Markets’ Harry George said the hotel could also be positioned as luxury residences with a 30 per cent rental growth forecast in the area in the next five years. 

CBRE’s Capital Markets team has been a leader in strata amalgamations within the Sydney CBD and city fringe. 

The team has amalgamated about 150 strata lots across five buildings in the past two years, including 104-118 Clarence Street, which forms part of Justin Hemmes’ Merivale development site. 

Hoteldo not useAustraliaReal EstateSector
AUTHOR
Taryn Paris
More articles by this author
ADVERTISEMENT
TOP STORIES
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
View All >
Residential

National Home Prices End Year on Record High

Lindsay Saunders
Lindfield SSD Resi EDM
Residential

North Shore $154m Apartment Play Tests Zoning Limits

Vanessa Croll
Markets

Australia’s Top 20 REITs Revealed

Shravanth Reddy
The nation’s REITS have shown resilience in challenging market conditions, but some key sectors are outperforming the re…
LATEST
Residential

National Home Prices End Year on Record High

Lindsay Saunders
3 Min
Lindfield SSD Resi EDM
Residential

North Shore $154m Apartment Play Tests Zoning Limits

Vanessa Croll
2 Min
Markets

Australia’s Top 20 REITs Revealed

Shravanth Reddy
6 Min
Star's Queen's Wharf complex that it has tried to sell its 50 per cent stake in to Chow Tai Fook Enterprises and Far East Consortium.
Hotel

Star’s Deal to Sell Queen’s Wharf Fails as Partners Exit

Marisa Wikramanayake
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/potts-point-hotel-art-deco-sydney-for-sale