Iconic Clovelly Sydney hotel hits the market in time for summer ownership

Iconic Clovelly Sydney hotel hits the market in time for summer ownership
Iconic Clovelly Sydney hotel hits the market in time for summer ownership

Ray White Hotels Australia and CBRE Hotels have listed the beachside institution, The Clovelly Hotel.

It has been trading for over 150 years.

"The Cloey is one of those folklore hospitality businesses that most Sydney-siders, and numerous others from much further afield, will have an affinity with" commented Andrew Jolliffe.

Iris Capital bought it in 2008 and extensively renovated in 2012.

Conjunction agent Daniel Dragicevich noted an element of the $9.1M in annual sales is notionally underwritten by the sheer weight and regularity of visitors to the area.

"There's no coincidence that the list of owners of other iconic beachside hospitality properties reads like a veritable hotel industry hall of fame roll call" concluded Daniel Dragicevich noting Justin Hemmes (Coogee Pavilion), Chris Cheung (Coogee Pavilion), Kim Maloney (Bondi) and Arthur Laundy/Fraser Short (Watsons Bay). 

The Clovelly Hotel is being sold via an international EOI process until November 23 meaning the successful purchaser can potentially take advantage of the legendary Christmas and New Year trade enjoyed by the hotel.

Tags: 
Sydney Ray White

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