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Pentagon Group buys Victoria’s Silverwater Resort

Silverwater Resort in San Remo on Melbourne’s suburban outskirts.

Plans for an additional 32 keys are being drawn up by Pentagon Group Hotels after the property investment and development company acquired the Silverwater Resort on Victoria’s San Remo coastline.

The sale, managed by CBRE Hotels, includes 88 residential apartments and management rights for an integrated holiday resort, making for a total of 172 keys. The property is located around an hour from Melbourne and overlooks Phillip Island to the north.

The acquisition of Silverwater Resort follows a spate of recent purchases by the group, which have included the Old Tudor Hotel in Launceston, The Bayside Inn in St Helens and the Foreshore Tavern in Hobart’s outskirts. All three properties were formerly part of the OBC Hotel & Leisure Fund.

Additional resort facilities include six conference and meeting rooms capable of catering to up to 500 people, several food and beverage facilities, indoor and outdoor swimming pools, sports courts and a children’s playground.

“We recognise that the Silverwater Resort has the ability to attract large groups and function-related clientele and we look forward to further driving that aspect of the business,” said Pentagon Group Managing Director, Vijan Patel, who added the company would continue to operate the business with a renewed focus on corporate and leisure guests.

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