- A Perth hotel has been acquired by Ark Capital Partners and its investor, Kyko Group.
- A residential development in Sydney's inner west has sold out.
- Several farms across New South Wales have hit the market.
Today’s property wrap features three farm listings across New South Wales, the acquisition of a hotel, and two phases of a residential development selling out in Sydney.
SOLD
Seasons of Perth Hotel acquired
Ark Capital Partners and its investor, Kyko Group, have acquired the hotel, which will undergo extensive renovation and rebranding to become Perth’s newest lifestyle hotel when it reopens in 2024.
“With a national and multi-sector property focus, we are excited with our acquisition and the potential of the Seasons of Perth Hotel, which boasts a prime location and the perfect blank canvas to become a thriving lifestyle destination,” said Kyko Group managing director, Bill Jenkings.
“We are proud to partner with Ark Capital Partners on this exciting development to capitalise on the long-term growth of tourism in Perth at a time when the city is undergoing a major revitalisation.”
“The Seasons of Perth Hotel presents a significant opportunity for us to completely renovate and reposition the hotel to deliver superior returns for our investor,” said Ark Capital Partners managing director and CEO, Rahul Parrab.
Ashbury Terraces first phases sold out – final release imminent
Coronation Property‘s inner western Sydney development, Ashbury Terraces, has now sold out its first and second phases. The company plans to release the final collection of apartments in the first quarter of 2024.
Located less than 10 kilometres from Sydney’s CBD in the heritage-conservation suburb of Ashbury, the project has been brought to life by a curated team of Australia’s leading designers and architects from renowned practice SJB, and 360 Degrees Landscape Architecture.
“The accelerated sales completion on phases one and two demonstrates the success and appetite for a development of this kind and proves there is still strong market confidence for quality development,” said Coronation Property’s managing director, Joe Nahas.
“A key component in Coronation Property’s property portfolio, this development underscores our commitment to consistently delivering well designed and expertly constructed residences across Greater Sydney,” added Nahas.
FOR SALE
Hay and livestock enterprises hit the market
The 184-hectare property set on the alluvial flats of the Belubula River at Canowindra, NSW, has been listed with LAWD.
The lucerne hay and lamb finishing property produces 35,000-40,000 small bales and 400-500 large bales annually and has a portfolio of secure, long-term clients, the largest of which has committed to continuing to buy from the new owners.
The property has more than 4 kilometres of frontage to the Belubula River as well as two irrigation licences – a 304 mL river irrigation licence and a 248 mL bore irrigation licence – and additional frontage to a permanent, spring-fed billabong.
The expressions of interest closes Thursday 12 October 2023.
Versatile farming asset close to Boorowa
A 199-hectare property, known as Ivanhoe, has been listed for sale by private treaty by Bill and Annabel Scott.
The property is 95% arable and has been sown to a pasture mix consisting of arrowleaf clover, cocksfoot, multiple sub-clover varieties, phalaris and lucerne, boosting its carrying capacity to 2550 DSE. Its versatility allows the property to run high numbers of sheep or cattle, or it may be fully cropped, providing the potential to pivot quickly with commodity markets.
This year, the Scotts have lambed 1300 medium-large frame Merino ewes for a 130% lambing rate, producing 1700 Dorset/Merino weaners. Dual-purpose cereals and canola have formed part of the cropping rotation since 2019 in preparation for pasture development.
Ivanhoe has 11 certificates of title and the minimum lot size for Hilltops Council is 40 ha, so the property may be subdivided or offer new buyers the opportunity to build a new homestead.
3,200 hectare ‘Mylora’ listed for sale
A mixed farming property in Binalong on the Southern Tablelands is being offered for sale for only the second time in its 170-year history, along with a historic, six-bedroom homestead overlooking Jugiong Creek.
The property comprises 1,800 ha of arable land and 1,410 ha of rolling pastures, with a carrying capacity of 40,000 DSE.
Improvements to the property include a roller mill with 2,660 t of grain storage, a 960-head cattle drought lot, extensive sheep/lamb feed yards with a capacity of 10,000 head, cattle yards, numerous sheep yards, hay sheds, machinery sheds and workshop.
Situated next door to the childhood home of Australian poet AB ‘Banjo’ Paterson who named his first published poem after the property, ‘Mylora’ sits at the junction of Illalong and Jugiong Creeks just 7km from the Hume Highway, an hour’s drive from Canberra and under three hours from the Sydney CBD.
The expressions of interest closes Thursday 12 October 2023.
