Sangoma Retreat sold to Spicers Group

​Sydney, 30 October 2014 – A stunning high-end boutique resort in the Blue Mountains has been sold to Spicers Group in their third purchase in NSW in 2014.

The Sangoma Retreat is a unique property perched on large boulders in beautiful Bowen Mountain.

Paul Kapiris from CBRE Hotels sold the property within two weeks of the close of the Expressions of Interest campaign. Whilst the sale price is confidential, it is understood that the sale price would reflect close to $1m per suite, being a record for retreat/resort style properties in the country.

Spicers Group is owned by Jude and Graham Turner. Jude Turner plays a central role in the Spicers vision - sourcing, designing and styling the retreats - while her husband, Graham, brings his travel industry experience as co-founder of Flight Centre Pty Ltd and other successful international businesses. The group currently owns eight high end boutique assets, with six of those in Queensland, and two in NSW. Earlier in the year, the group purchased Victoria Court Hotel in Potts Point through CBRE Hotels.

“We are delighted to be introducing Sangoma Retreat to the Spicers Retreats collection,” Ms Turner said.

“This will be our third property in NSW along with Spicers Vineyards Estate in the Hunter Valley and our exciting hotel project which is taking shape in Sydney at Potts Point.”

Ms Turner added; “Previous owners Michael Podles and Zenga Butler have done a fantastic job at creating such a beautiful product, nestled amongst native Australian bushland, featuring cliff edge suites, and stunning views. Sangoma Retreat fits perfectly with the Spicers mantra of “relaxed luxury”, and we are pleased to now have secured what we believe to be one of the best luxury retreats in NSW, if not the country.”

Sangoma Retreat was designed and built to exceptionally high standards, with the Glen Murcutt inspired architecture and design taking its cues from Africa and the Australian bush. It spans ten acres of bushland only 70 minutes from Sydney CBD and has been fully certified by ECO Tourism Australia.

Sangoma has won Tripadvisor’s highly rated ‘Traveller’s Choice’ awards for three years in a row.The property includes five stand-alone suites (with potential for further development), a large open main house with communal dining and a stunning infinity pool with views towards Sydney.

Mr Kapiris said the Sangoma Retreat was a manifestation of the life and work of its creators, Michael Podles and Zenga Butler. With diverse backgrounds in design, fine dining, classical music and fine art, the pair has worked with some of Australia’s finest hotels to create stylish and welcoming interiors of the highest standard.

“Undoubtedly one of Australia’s finest luxury retreats, Sangoma Retreat attracted significant interest from a wide range of investor groups. Some of Australia’s best known hospitality investors strongly considered the investment,” Mr Kapiris said.

“Investors were particularly keen on the location of the property, around an hour from Sydney, and the potential for further development of the property to capitalise on the current strong demand from clientele, which has resulted in the property being booked out for months in advance, and room rates of over $1,100 per night.”

Mr Kapiris added the sale was another example of the wide reaching and strong client relationships that CBRE Hotels had developed with some of the industry’s key hotel investors, owners, and operators.

“The high end boutique hotel market is dominated by high net worth investors. Recent transactions in addition to this year’s Spicers deals include the sale by CBRE Hotels of Tower Estate in the Hunter Valley to Michael Hope.”

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue).  The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.