One of Australia’s hottest new hotels, the Bower Byron Bay, is headed to market amid rising interest in luxury-boutique hotel investment opportunities.
Located on Bangalow Road, the hotel was opened in 2018 by Byron Beach Abodes on a leafy 4,495sqm landholding.
The design was inspired by co-owner Taliah Lowry’s time in New York, specifically the Bowery neighbourhood of Manhattan, and was the result of a collaborative process to repurpose the former 1970s roadside motel.
It comprises 29 sleek, art-focused guest rooms – spanning barns, cottages, hotel rooms and suites – and an award-winning circular swimming pool.
CBRE Hotels’ Wayne Bunz and Hayley Manvell have been appointed to bring Bower Byron Bay to market, with a sales campaign to start in February.
“The Bower Byron Bay is a destination that has fast made a name for its relaxed ‘New York meets barefoot Byron’ décor and ambience,” Mr Bunz said.
“It has become one of Australia’s hottest hotels, widely praised by fashion and lifestyle magazines including Vogue, Condé Nast and Gourmet Traveller.
“Byron Bay is popular among domestic and international guests, and this site is just minutes from local shops and cafes, and within walking distance of famous beaches.”
Approximately $150 million in hotels have transacted over the past 12 months in Byron Bay with the recent announcement of the sale of the Byron Beach Hotel for $104 million following the $42 million sale last year through CBRE Hotels of the Byron at Byron.
Ms Manvell said the strength of buyer interest highlighted the local and offshore demand for luxury-boutique hotel offerings and underpinned the owners’ decision to list Bower Byron Bay for sale.
“Byron Bay is now recognised as a global destination, and we are very confident that we will attract interest from high net worth individuals not only from Australia, but globally,” Ms Manvell said.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.