Hotel Bondi listed by the Maloney family after 44 years

The historic 1919 Hotel Bondi has been put up for sale by the family of the late hotelier, Cyril Maloney.

The family have owned it for 44 years, bought by the third-generation hotelier Cyril Maloney, who was born in 1919, in Henty, NSW.

After leaving school at 14 to help the family after the Great Depression, Maloney's beginnings as a hotelier began with his wartime savings kitty of £3,000 to buy the Railway Hotel in Orange.

Then came the Regent Hotel at Broadway in the Illawarra, the Wallerawang Hotel, the Freemasons Hotel in Broken Hill, the Railway Hotel in Parramatta, the Great Northern Hotel in Chatswood, the Shellharbour Hotel, the Olympic Hotel in Moore Park, the Bondi Astra, Cronulla's Cecil, the Hornsby Hotel, the Metropole Hotel in Cremorne and the Hampton Hotel in Kings Cross.

The jewel in the crown was the Hotel Bondi.

The property is a four-level hotel with 37 ensuite hotel rooms, bar, gaming room with 30 gaming machine entitlements, bottleshop and 12 car spaces on Campbell Parade.

The hotel is tipped to sell at about $40 million, although the SMH commercial property editor Carolyn Cummins says its real value lies in the development potential of the property.

The Australian Financial Review subsequently suggested $45 million plus.

It sits adjacent to the soon-to-be-completed Pacific Bondi Beach, a luxury apartment and hospitality development.

The Maloney family have yet to sell their prestige CBD penthouse.