Sydney, 9 September 2013- Two accommodation properties have been sold in idyllic Port Stephens for a higher than expected price.
The Peninsula Nelsons Bay Motel & Apartments and the Peninsula Palms Motel at 52 and 54 Shoal Bay Road, Nelson Bay, NSW, were sold ‘in one line’ by public auction on 22 August 2013.
Five parties competed for the properties, with the winning bidder paying $4,046 million.
Andrew Jackson of CBRE Hotels sold the properties in conjunction with Ray Larkin of Manenti Quinlan & Associates.
Mr Jackson said that they were exceptionally pleased with the auction result.
“There was huge interest in these two properties and the auction was hotly contested. The owners are thrilled with the price, which was higher than expected,” said Mr Jackson.
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