Bowral Hotel sold for $6.35 million
Jonathan ChancellorDecember 7, 2020
The Bowral Hotel has been sold to an undisclosed Sydney-based hotel operator for $6.35 million by the listed Lantern Group.
It sold through CBRE's Daniel Dragicevich and Ben McDonald.
Lantern Hotel's chief executive Jon Osborne said the sale was part of the ongoing divestment of non-core assets.
The group has sold five hotels in the past nine months, with two further sales under contract.
"The program is continuing with a sale of the Lawson Park Hotel, Mudgee.
CBRE Hotels advised the sales campaign for the Bowral Hotel attracted more than 50 genuine inquiries and 13 initial offers.
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.