Sun Hotel Byron Bay
CBRE Hotels’ Paul Fraser said there has been an unprecedented influx of people wanting to move to the Byron Bay area, increasing demand for residential property. Source: Image – Supplied.
  • Property previously held by Flannery family's KTQ Group
  • Purchased by investment group, led by Winchester Group
  • Current vacancy rates for the area are 1.6%

Late in February, The Sun Hotel went on the market after being owned, developed and operated by the Flannery family’s KTQ Group since 2014.

The local haunt includes a bar and bistro, as well as a drive-thru bottle shop and TAB.

It is, as that cliche goes, ‘hot property’, said CBRE Hotels’ Wayne Bunz.

“Byron continues to be [one of] the most sought-after destinations in Australia, and we continue to be inundated with enquiry for investors seeking a foothold in the northern NSW area.”

Wayne Bunz, CBRE Hotels

Expressions of interest closed on 30 March. Yesterday, the company appointed to helm the sale, CBRE, announced a sale had been completed.

Who did it go to?

The freehold divestment was made to an investment group, led by the Winchester Group.

Winchester Group’s Director, Shaun Dunleavy said it hailed a warm return to Byron Bay for the group and indicated further development was on the cards for hotel.

“With Byron seeing major changes in recent years, we want to create a venue with strong roots in the community, that’s welcoming to everyone, source suppliers locally and offer good old-fashioned value for money.”

Shaun Dunleavy, Director, Winchester Group

The market more broadly

Byron Bay has been hot property lately, not least due to its prime location, the pandemic, and celebrity interest.

The number of people filtering through the idyllic location is a marvel: vacancy rates for the area plummeted to incredible lows over the November to March period, seeing rates of 0.4% to 0.5%. More recently, it rose to 1.6%.

Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return.

The Sun Hotel property sits on 7,653 square metres of land and is located on Byron Bay’s North Beach.

You May Also Like

Beachside bargains: Top 10 NSW suburbs for downsizing under $1m

Discover NSW’s hidden gems where coastal lifestyles and housing affordability meet.

Is Christmas FOMO leading to bad property buying decisions?

A sense of urgency could be leading to poor property buying decisions.

A growing number of buyers and renters are swiping right on digital inspections

While the option seems great for the time poor, it still misses the mark on delivering a feel for the area and scale of the home.

Sub-penthouse at Sapphire by the Gardens expected to fetch over $12M

A property in one of Australia’s iconic buildings has just been brought to the market, with price expectations in excess of $12 million

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Rentvesting in Australia: A deep dive

Rentvesting offers an alternative path into the property market for priced-out first-time buyers.

Housing crisis survival guide: How to buy your first Australian property

Three property experts give the low down on how to nab a home in this tough housing market.