Fresh bid to sell Ingleside Sydney Conference and Training Centre
The owners of a 56-room conference and training centre on Sydney’s northern beaches are making a fresh bid to sell after COVID put the brakes on last year.
And they have also announced plans to relaunch the facility as a leasing opportunity to a third-party operator – potentially rebranding with a major international hotel brand.
They are also reportedly in talks with the Federal Government to provide an accommodation program at the site, although details remain confidential.
The Sydney Conference and Training Centre, was formerly a Westpac-owned complex, and is located at 30 Ingleside Rd, Ingleside.
The 3.51ha site came to market midway through last year with Raymond Tran, Tom Gibson, and Andrew Jackson, of CBRE Hotels.
CoreLogic records show the current owner bought the property in 2016 for $13 million.
A price guide has not been provided for the niche property, which includes a 56 four-star hotel rooms, bar and cocktail lounge, swimming pool with sundeck and barbecue area, gym, recreation room, sauna, and several conference rooms.
There is on-site asking for 60 cars and buses and a residential caretakers cottage on the property.
It was Westpac’s in-house training centre for 20 years until the bank sold the complex in 2008.
In addition to its value as a going concern, the centre offers redevelopment opportunities, subject to council approval, including residential, medical and aged care/retirement.
Mr Tran said COVID and the closure of international borders last year had impacted the sale of the property.
“The impact of not being able travel internationally, as well as interstate, stunted initial interest in 30 Ingleside Rd,” he said.
However, he said inquiry levels and general interest has increased during the Christmas-New Year holiday season.
“The bulk of new inquiry has come from Hong Kong and India, as well as expats looking to secure a piece of Aussie dirt,” Mr Tran said.
“A few boutique developers are also looking to the property for housing and land lot subdivision.”
He said the owner had also decided to push forward with more immediate leasing plans for the site.
“The conference centre will be branded with a major hotel brand and ongoing discussions with a Federal Government accommodation program at the location is underway,” he said.
Mr Tran said the land area was substantial for Ingleside, therefore there was a split consensus on the future redevelopment options.
“The vendor has undertaken various planning schemes for a subdivision of the land in line with current zoning for 32 housing lots, or 20 housing and 42 townhouses lots,” he said
“There is also future opportunity to wait and hold for rezoning of the land to medium residential density, in line with the UrbanGrowth NSW priority precinct plan.
“Neighbouring prestige houses have traded for circa $3.7 million over the years, citing ocean views and large land holdings as the attractive features.”
The property is popular with leisure groups during school holidays and off-peak periods, and Mr Tran said they had received franchise/management proposals from major hotel brands.
“The locality of the site is quite ideal for a resort with a multipurpose sports court, area for a sports field, pool, gym, recreation area, mountain biking trails and the beach and Narrabeen lagoon within bush walking distance,” he said.
“There is a prospective hotel conference lessee going through the final stages of negotiation with the vendor. The lease will contain demolition clauses and vacant possession for greater flexibility.”