Eureka Funds Management has sold Four Seasons Hotel Sydney for AUD$340 million to Korean firm Mirae Asset Global Investments.
The property underwent a AUD$45 million renovation in recent years that included the rooms, suites and general areas, as well as the addition of two F&B outlets, The Woods and Grain.
Eureka Funds Management bought the property for AUD$225 million in 2006 and the purchase by Mirae follows the recent large-scale property sales of Shangri-La Hotel Sydney and the Sydney Harbour Marriott in what has become a hot city for acquisitions.