This article is from the Australian Property Journal archive
A CHINA-based investor has bought the heritage-listed Admiral Collingwood Lodge in Drummoyne for $3.5 million.
LJ Hooker Commercial Sydney’s Barry Griffiths and McGrath’s Kate Lorden sold the property at 5 Collingwood St Drummoyne, which includes 15 guestrooms, a country-style garden, located on a 696 sqm site.
A China-based buyer post-auction purchased the property from the owner-occupier. The hotel, a Victorian mansion built in the 1880s, was offered as vacant possession.
“Sydney’s tourism industry has been performing strongly this year, with the lower Australian Dollar encouraging both domestic and international visitation.
“It’s a stunning property, with the sellers undertaking a meticulous renovation only a few years back. As a boutique hotel, it received numerous industry accolades. But as a commercial property investment, it holds real opportunity and value,” Griffiths said.
Australian Property Journal
