Australia’s newest boutique hotel, the 35 room Little Albion Guest House in Sydney’s Surry Hills, has been sold to GA Group Australia, trading as Crystalbrook Collection.
CBRE Hotels’ National Director Wayne Bunz handled the off-market sale on behalf of 8Hotels.
“This sale highlights the strong investor demand for quality hotel investment opportunities in Sydney and the continued trend for investors looking for a more bespoke and boutique hotel offering,” Mr Bunz said
“The sale achieved a record price per key for any Australian hotel when considering it’s a rooms-only property with no function rooms, restaurant space or car parking.”
Little Albion Guest House Hotel was designed and developed by Paul Fischmann, founder and owner of 8Hotels. It is housed within a unique heritage building constructed in 1910 as a former school convent and painstakingly transformed into a premium 5-star hotel offering, merging a heritage listed building with new construction.
The hotel is located in the popular inner Sydney suburb of Surry Hills, which is largely devoid of quality accommodation.
GA Group and Crystalbrook Collection Chief Executive Mark Davie said; “Crystalbrook Collection is delighted to add Little Albion to its collection of hotels and resorts. Each of Crystalbrook Collection’s properties have a unique style and personality. Little Albion’s intimate, unpretentious approach, paired with its unparalleled Surry Hills location makes it an excellent investment for our group.”
8Hotels’ Paul Fischmann said; “I never intended to sell Little Albion. We spent three years building it for the long term and it was a very personal project to me, but Wayne Bunz from CBRE approached with an offer I couldn’t refuse.”
CBRE Hotels’ National Director Wayne Bunz handled the off-market sale on behalf of 8Hotels.
“This sale highlights the strong investor demand for quality hotel investment opportunities in Sydney and the continued trend for investors looking for a more bespoke and boutique hotel offering,” Mr Bunz said
“The sale achieved a record price per key for any Australian hotel when considering it’s a rooms-only property with no function rooms, restaurant space or car parking.”
Little Albion Guest House Hotel was designed and developed by Paul Fischmann, founder and owner of 8Hotels. It is housed within a unique heritage building constructed in 1910 as a former school convent and painstakingly transformed into a premium 5-star hotel offering, merging a heritage listed building with new construction.
The hotel is located in the popular inner Sydney suburb of Surry Hills, which is largely devoid of quality accommodation.
GA Group and Crystalbrook Collection Chief Executive Mark Davie said; “Crystalbrook Collection is delighted to add Little Albion to its collection of hotels and resorts. Each of Crystalbrook Collection’s properties have a unique style and personality. Little Albion’s intimate, unpretentious approach, paired with its unparalleled Surry Hills location makes it an excellent investment for our group.”
8Hotels’ Paul Fischmann said; “I never intended to sell Little Albion. We spent three years building it for the long term and it was a very personal project to me, but Wayne Bunz from CBRE approached with an offer I couldn’t refuse.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
