Sydney, 16 May 2013- The historic Clarendon Guesthouse in the Blue Mountains has been listed for sale on behalf of owners Frank and June Grzonkowski of Blaxland.
The 1,917sqm site is located at 68 Lurline Street, Katoomba and includes a guesthouse with 39 guest rooms as well as an iconic live entertainment theatre venue that has hosted some of Australia’s best known performers, including Angus & Julia Stone, Russell Crowe, Ian Moss, Sarah Blasko, Tim Rogers, and Missy Higgins.
CBRE Hotels’ Paul Kapiris and Andrew Jackson will steer the Expressions of Interest campaign closing Wednesday 12th June, 2013. The property is being offered with vacant possession.
Mr Kapiris said the location, affordable price point, and relative ease of operation of the offering were likely to appeal to a range of purchasers, in particular owner operators.
“Clarendon Guesthouse offers an incoming investor numerous opportunities to reposition or rebrand the guesthouse to better capitalise on the property’s potential,” Mr Kapiris said.
“The Great Western Highway sections between Sydney and Katooomba are due for completion soon, which many believe will result in increased visitors to the scenic Blue Mountains area from the state’s capital.”
Mr Jackson commented; “The property has previously traded well and offers a blank canvas with scope for accommodation, food and beverage as well as entertainment/conferencing revenue lines to capitalise on its renowned tourist location. Furthermore, experienced operators will know the inherent benefits of reaching that critical number of around 40 rooms, which is regarded by many as the tipping point where operators can begin to see real economies of scale.”
The hotel is approximately 90 minutes drive from the Sydney CBD and boasts a central location in Katoomba. The Three Sisters lookout - one of the Blue Mountains most popular tourist attractions – is located a short walk from the property.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.