Hitting the market early in the New Year is the InterContinental Sydney Double Bay, in a campaign being led by Colliers - Sydney and CBRE. The vendors are joint-venture owners Fridcorp and Piety Group, design-based property developers.
The InterContinental Sydney Double Bay, previously known as the Ritz-Carlton Hotel, is a five-star, five-level boutique hotel with a retail area with 37 shops (The Promenade), a dining and ballroom area, a conference room, four floors of residential units, 140 hotel suites and two levels of basement car parking for 156 cars. It was built in 1991, closed in 2009 to undergo a multi-million refurbishment and re-opened as a hotel in 2014. Further upgrades were also carried out by the current owners including regenerating the bar and restaurant under the experienced eye of restaurateur, Maurice Terzini.
The hotel is reportedly for sale with an asking price of $240 million. It previously traded at $128 million in 2021 and at $87 million in 2017.
CoreLogic Australia