Estate Tuscany, an award-winning boutique hotel in NSW’s Hunter Valley, has been sold by the Gregson family to a Sydney based investment fund for an undisclosed sum.

After 20 years under Gregson ownership, the new owner is planning to make strategic upgrades to the property, which will continue as Estate Tuscany.

Set in 23-acres of countryside, the property features 38 rooms, with views of the Brokenback Mountain range, and an award-winning restaurant and bar. The site also includes two retail shops leased to Thomas Wines.

Estate Tuscany owner William Gregson was pleased with the outcome of the sale, which involved an International Expression of Interest campaign, brokered by HTL Property Directors Nic Simarro and Andrew Jackson.

“[It was] a very complicated deal to say the least,” Gregson said.

Estate Tuscany, Hunter Valley, NSW

The property garnered over seventy enquiries, and multiple formal offers were submitted at closing.

The announcement follows HTL Property’s sale of the Sydney Harbourfront Q Station, and the Blue Mountains located Eagle View Escape.

“As a firm, we are witnessing firsthand the unsatisfied market thirst for experiential and unique accommodation offerings in both metro and sub-metro applications,” said HTL Property National Accommodation Director, Andrew Jackson.

Regional accommodation has experienced a significant interest from buyers of late, according to HTL Property, and this is expected to continue.

“The buyer pool for regional accommodation has exploded in the past twelve months with not only domestic hotel funds and owner operators seeking this class of asset, but also institutional investors and a new breed of ‘lifestyle investor,’” said HTL Property’s Nic Simarro.

HTL Property’s Managing Director, Andrew Jolliffe, is confident that demand for these assets will remain strong.

“It is our considered view that this pronounced investment behaviour for irreplaceable domestic assets will survive and in fact thrive beyond such as time as internal travel volumes normalise,” he said.