Just 10 months after finishing the renovations of a 1980s brick motel in Byron Bay, the owners of The Sunseeker are selling up for a tidy sum – somewhere between $15 million and $20 million.
Title records show the property last traded for $6 million in late 2019.
It is the latest hotel listing on offer in Australia’s celebrity hot spot, and comes amid a strong interest in boutique hotel investments on the east coast.
Owner-operators Jess and Dave Frid embarked on a multimillion-dollar makeover of the outdated motel throughout 2020.
Their vision was to “play on the nostalgia of an old motel and carry that through with a modernised offering in low-key and low-fanfare ways”, Ms Frid told Domain earlier this year.
Located on a large 6300-square-metre piece of land, The Sunseeker comprises 12 guest rooms, nine self-contained bungalows, an onsite caretaker apartment and a three-bedroom residence. The property also features a mineral heated pool with a poolside tiki bar, an onsite coffee cart and a library.
The doors officially re-opened in January and the boutique hotel instantly won accolades; it was the only Australian hotel to be listed in Condé Nast Traveller’s Hot List 2021 – Best New Hotels.
CBRE Hotels’ Wayne Bunz and Hayley Manvell have been appointed to sell the motel, and expect local and global interest from high-net-worth investors and hoteliers.
“Byron is unequivocally known as an international leisure destination now,” Mr Bunz said. “It’s never been as hot as it is now.”
He said the owners had no desperate need to sell, but were taking advantage of pent-up demand for leisure assets in the region. “I think our timing is perfect to release this,” he added.
Originally from Melbourne, the Frids developed several projects in the past before moving to Byron Bay a few years ago.
The Sunseeker is being offered for sale with vacant interest, and is being marketed as an opportunity for owner operators and brands to enter Byron’s hotly contested market.
“Byron Bay continues to be the most highly sought-after hotel investment market in Australia,” Ms Manvell said. “And with NSW lockdown restriction set to ease next week, and a potential easing of the international border to follow, this asset is perfectly poised to capitalise on an incredible wave of forthcoming demand”.
The property offers development potential with a 1250-square-metre vacant parcel of land within the site.
Expressions of interest close on November 11, unless sold prior.
There have been several notable hotel and accommodation offerings in Byron Bay and its surrounds over the past 18 months, including the recent sale of the Sun Hotel.
Last year, The Bower luxury hotel in Byron Bay was listed with price expectations around $20 million, and sold to a Gold Coast-based family for an undisclosed sum.
Meanwhile, in the Byron hinterland, the wellness resort Gaia, co-owned by Olivia Newton John, remains on the market.