Four boutique hotels operated by the Emerald City Hotel Group in Sydney’s lower North Shore have been listed for sale, with CBRE Hotels engaged to bring the sale to market.
The owner-operator portfolio includes Dalziel Lodge in North Sydney; Glenferrie Lodge in Kirribilli; Cremorne Point Manor in Cremorne and The Albert in Mosman. The four hotels range in size from 16 to 70 rooms, 142 rooms in total, and are housed in classic heritage buildings, which CBRE says are positioned well for opportunities including brand conversion.
CBRE Hotels Director, Tom Gibson, said the sale presented a great opportunity to enter the Sydney boutique accommodation market, with Expressions of Interest due to close on 9 December.
“Glenferrie Lodge’s prime Kirribilli location near the Sydney Harbour Bridge also underpins the site’s medium-term value as a potential conversion into a luxury residential development offering iconic views of Sydney Harbour,” Gibson said.
Another of the properties, The Albert, has recently benefited from a AUD$12 million restoration which has elevated the 26-room property to five star standard.
“There is something special about restoring a heritage site and breathing new life into it,” said Emerald City Hotel Group Founder, Jean-Claude Branch.
“All four hotels were a result of positive engagement with the North Shore community and a lot of blood, sweat and tears.”