- The first purpose-built backpackers' hostel in Australia
- Was constructed and has been owned by the Walker family since 1983
- Comes after the nearby Beach Hotel sold for $104 million last year
The Bryon Bay Holiday Village Backpackers – which was the first purpose-built backpackers’ hostel in the nation – has been sold for a reported $18.55 million.
Sydney developer, Podia, have purchased the 4287sqm site at 116 Jonson Street.
Currently, no development applications are in place, although Podia is working through potential development options for the site with architects.
A 5390sqm development site, next door to the hostel on Jonson Street, sold for $29.8 million in January. The site is the Woolworths-tenanted ‘Mercato on Byron’ complex and Palace Cinema adjoined with two new proposed developments, including a four-star hotel.
Further down Jonson Street, a new plaza development is also underway.
The 200-bed hostel was constructed and purchased by the Walker family in 1983. The family have held onto the hostel during its entire 37-year history.
The deal was brokered through John Musca and Elliot O’Shea of JLL Property Group who said they received 150 inquiries during the marketing campaign.
Despite the pandemic, which has resulted in virtually no international tourists to Byron Bay, interest in the northern New South Wales beachside town is still high.
Byron Bay has continued to be popular with local tourists and is well known for famous residents such as the Hemsworth brothers – Liam and Chris – who have reportedly spent $20 million on property in the area.
In 2020, Moelis acquired the Beach Hotel for $104 million, and the Guok family purchased the Bower Hotel for $18 million.