CBRE Hotels has been appointed to market for sale the landmark Byron at Byron Resort and Spa.
Located approximately five minutes' drive from the centre of Byron Bay, the resort has hit the market for the first time since its 2005 opening.
Frequently acclaimed in the top ten best luxury resorts of Australia, the resort features 92 suites, a one-hatted restaurant, conference centre, infinity swimming pool, tennis court, gymnasium, lobby retail shop and day spa, set amongst 18ha of subtropical rainforest with beachfront access.
The eco resort has been built using environmentally sustainable design and constructed to blend in with the rainforest surrounds, as well as incorporating best practice systems to minimize its carbon footprint.
CBRE Hotels’ Wayne Bunz and Andrew Jackson have been exclusively appointed to lead the International Expressions of Interest campaign.
National Director for CBRE Hotels Wayne Bunz said that he expected a high level of interest due to the calibre of the property and the high barriers to entry for new accommodation offerings presented by environmental protection laws in the Byron Bay area.
“Acquiring a land parcel and gaining the necessary approvals to build this type of asset in Byron Bay is notoriously difficult, and approvals of this nature may never again be repeated in the area, making this a very exclusive opportunity,” said Mr Bunz.
“After several high-profile clients approached us to find a location in Byron Bay, CBRE Hotels submitted off-market expressions of interest for the Byron at Byron, and subsequently convinced the vendors to take it to a public marketing campaign.”
Mr Jackson commented; “The luxury resort is owner-operated, and with no international branded resort existing in Byron Bay to date, we expect there will be a number of world-renowned leisure brands eager to enter this tightly held market,”
Australian leisure assets have recently gained global interest after KSL Capital Private Equity Group acquired a stake in the Baillie Lodges portfolio and Silky Oaks Lodge in the Daintree Rainforest.
Other notable CBRE transactions in Byron Bay include the $70m sale of the Byron Beach House Hotel to the Liberman family in 2017 in a deal that still holds the record for the single largest pub transaction in Australia.
The Byron at Byron Resort and Spa is being offered for sale by way of an International Expression of Interest campaign closing July 10, 2019.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
