Already a subscriber?Developer Golden Age has put its 264-room Ace Hotel in Surry Hills on the Sydney city fringe up for sale with an asking price of up to $300 million, in the first major short-stay accommodation offering of the year.
The 18-storey hotel was created through the reuse of a 10-storey former warehouse building completed in 1916, known as Tyne House.Advertisement In February, listed fund manager MA Financial struck the biggest hotel deal so far this year after buying theThis month, the under-construction 25hours hotel in Paddington was put on the market by developer Central Element and Bill Moss’s Boston Global Group with a price tag of more than $100 million.
Golden Age has appointed CBRE’s Michael Simpson and Tom Gibson to sell Ace Hotel Sydney via an international expression of interest campaign closing on May 2.