A Sydney-based investment group has paid circa $6,000,000 for Bowral’s landmark Links House Hotel amid an ongoing boom in the domestic drive tourism market.
The freehold going concern interest in the Southern Highlands’ hotel was sold after an Expressions of Interest campaign conducted by CBRE Hotels’ Hayley Manvell and Raymond Tran.
Links House is situated on a large 5,321sqm land parcel adjacent to Bowral Golf Club and a 90-minute drive south-west from Sydney.
Originally constructed in 1928, the hotel features 17 guest rooms of various configurations as well as a fine dining restaurant and versatile event facilities capable of hosting weddings, functions, conferences and retreats.
“Due to the tightly held nature of Bowral and Southern Highlands’ accommodation assets, the campaign generated significant interest from a multitude of investment groups, owner operators and high net worth individuals,” Ms Manvell said.
“Bowral is one of the most scenic and popular regional tourism destinations in the country and benefits significantly from its location at the geographic halfway point between Sydney and Canberra. The Southern Highlands region has benefitted from ongoing growth in domestic tourism, which has underpinned interest in quality accommodation assets offering a robust trading outlook and strong capital appreciation potential.”
The deal is the latest in a series of regional accommodation transactions.
Ms Manvell noted, “Many Australians are still opting to explore their own back yard. This, coupled with a continued recovery in international visitor numbers, is expected to drive strong ongoing investor interest in these types of assets through 2023.”
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