This article is from the Australian Property Journal archive
MERIVALE’s chief executive officer Justin Hemmes has purchased the Tennyson Hotel in Mascot for a record auction price of $37.05 million.
The two-level 1,423sqm hotel in Sydney’s south is located at 952 Botany Road, on the corner of High Street, and is located close to the $13 billion, 278-hectare Green Square urban renewal project.
Hemmes’ buy follows Merivale’s $10 million acquisition of the Alexandria Hotel, and his own purchase of the Newport Arms Hotel in Pittwater for $50 million last year.
Ray White Hotels’ Andrew Jolliffe sold the property on behalf of the Feros family of JDA Hotels, with the auction held at Ray White’s head office in Sydney’s CBD in front of 250 people.
Jolliffe also sold The Figtree Hotel in Wollongong at the auction, for $5.375 million.
Australian Property Journal
