The Bayswater Sydney Hotel, which offers five floors of accommodation with 51 rooms and two retail tenancies fronting Bayswater Road, has come to market as the iconic Potts Point and Kings Cross areas experience ongoing gentrification and revitalisation.
Covering 446 square metres of land, 17 Bayswater Road, Potts Point provides a unique investment opportunity within New South Wales’ most densely populated area, which is one train stop from the CBD and has easy access to the Eastern Suburbs and Sydney’s most popular beaches.
The Hotel is being offered with vacant possession, enabling the new owner to either run the operation on an owner operator basis or bring in a hotel operating group to run the operation.
The Bayswater Sydney Hotel is exclusively listed with Gus Moors, Matt Pontey and Miron Solomons of Colliers, with price expectations around $20 million.
“This is an exceptional opportunity to capitalise on the pent-up demand in the city fringe for boutique hotels.” Mr Moors said.
“Whilst the CBD is being dominated by the larger hotel groups and offerings, there is a gap in the market that exists for smaller offerings that provide a competitive product to the major hotel chains.”
The Potts Point market is witnessing an exciting chapter, with a large supply of residential apartments coming to market, notably the high-end Queensgate development on the site of the former Bourbon.
“High end development will continue the gentrification and rejuvenation of Kings Cross as it becomes a trendy late-night dining & entertainment district once more.” Mr Pontey said.
“Because Potts Point is known as a special part of Sydney, which blends the past with the future, the suburb has attracted substantial developer interest to enhance utilisation of the locale one stop from the CBD.
“Potts Point is one of the last suburbs in Sydney where there is an opportunity for transformation to create a world class attraction boasting both the old and new that is the Cross.”
“The hotel market continues its ascent as international travel has resumed and tourist are seeking to explore once again.” Mr Solomons said.
“The recovery is well and truly underway.”
The Bayswater Sydney Hotel is being sold via an International Expression of Interest campaign, closing 12pm AEST on Thursday 15 September 2022.
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