Crown Street, Surry Hills motel sells at $314,000 a room

Jonathan Chancellor

| Nov 18,2015

| 0 min read

The 28 room City Crown Motel at 287-289 Crown Street, Surry Hills has sold for $8.8 million.

LJ Hooker Commercial South Sydney agent Barry Griffiths secured a room rate of $314,000 with seven bidders.

The 385 sqm site was sold with approval for a 42 bed motel.

The purchasers were described as private partners looking to get a foothold in the inner city accommodation market.

It last traded when bought by Nola Holdings in 2002 at $3.55 million.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.