This article is from the Australian Property Journal archive
The Craigieburn Resort in New South Wales’ Southern Highlands is on the market through Jones Lang LaSalle Hotels.
On behalf of its local owners, JLL Hotels has been appointed to market the Craigieburn Resort, which includes 72 guest rooms with ensuites and a nine hole private golf course.
Built in 1887, the Craigieburn Resort has recently undergone a $6.3 million refurbishment.
The resort boasts modern conference and meeting rooms catering for up to 240 delegates, a gymnasium, licensed bar and restaurant, hoteliers licence with gaming machines, two tennis courts, a billiards room and a beauty therapy room.
In addition, JLL Hotels’ Mark Durran said the well established resort currently sits on prime Southern Highlands real estate with expansive views.
The Craigieburn Resort and golf course and adjoining development land covers over three separate titles totalling some 85 acres of land, within 20 minutes walking distance from the township of Bowral.
“Underpinning the value of the resort as a going concern is substantial residential land value attributable to potential redevelopment of the Resort that will appeal to developers and investors alike.
“The additional residential land parcels provide a rare development opportunity to expand the Resort facilities or alternatively develop for other uses such as aged care, residential or retirement villages,” Durran concluded.
JLL’s Anthony Corbett said the existing resort performance indicates potential to streamline the operation and implement systems to improve profitability more in line with industry benchmarks.
“Furthermore, an incoming owner can fully capitalise on the benefits of the refurbishment through rebranding with a major operator,” he added.
The hotel is currently owner-operated but is available with vacant possession.
By Adam Parsons
