Rae’s on Wategos in Byron Bay has been placed on the market for the first time in 20 years by entrepreneur Vincent Rae, with an auction set for October 26.
Located on the most easterly point of Australia’s Wategos Beach, Rae’s has seven individually styled penthouses and suites, a 60-seat restaurant and an award-winning Day Spa.
“Rae’s is a hotel with the genuine feel of a beautiful home, it’s a magnificent building and lifestyle however after 20 years, it’s time for me to move on and pursue my overseas interest,” said founder and owner Vinnie Rae.
Ray White Hotels Australia has been appointed to manage the property’s sales in conjunction with Kay and Burton in Melbourne.
Ray White Hotels’ Tony Bargwanna said he was expecting high levels of interest in the sale.