Renowned resort a rare opening in Byron Bay market
Retail magnate Gerry Harvey’s stunning Byron at Byron Resort & Spa is officially on the market, less than a month after news the billionaire was considering selling.
The renowned eco-resort, which opened in 2005 and has never been sold, was mooted as a potential $50 million sale and is expected to attract interest both locally and abroad.
Only five minutes from the centre of Byron Bay, the resort has 92 suites, a one-hatted restaurant, day spa, conference centre, infinity swimming pool, tennis court, gymnasium and lobby retail shop.
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It is set amid 18ha of subtropical rainforest, and has beachfront access.
CBRE’s Wayne Bunz and Andrew Jackson are marketing the resort, with Bunz saying interest should be high due to the challenges in investing in accommodation in and around the NSW holiday town.
“Acquiring a land parcel and gaining the necessary approvals to build this type of asset in Byron Bay is notoriously difficult, and approvals of this nature may never again be repeated in the area, making this a very exclusive opportunity,” he says.
Bunz says major hospitality investors have been sniffing around Byron Bay for some time.
“After several high-profile clients approached us to find a location in Byron Bay, CBRE Hotels submitted off-market expressions of interest for the Byron at Byron, and subsequently convinced the vendors to take it to a public marketing campaign.”
Jackson says well-known leisure brands are expected to be among those making a play for the asset.
“The luxury resort is owner-operated, and with no international branded resort existing in Byron Bay to date, we expect there will be a number of world-renowned leisure brands eager to enter this tightly held market,” he says.
Byron at Byron Spa & Resort is being sold through expressions of interest, which close on July 10.