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HOTEL, TOURISM & LEISURE

Icon put out feelers for Vibe Hotel

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AHEAD of opening in September, the 4.5-star Vibe Hotel Darling Harbour has been listed for sale, representing the first chance to purchase a brand new Sydney CBD major hotel in two years.

JLL’s Craig Collins and Andrew Langsford are managing the expressions of interest campaign for 318-325 Sussex St, closing 12th September.

Designed by architecture firm WMK, the hotel has 145 rooms, restaurant The Sussex Store, rooftop bar Above 319, and a heated swimming pool with city skyline and Darling Harbour views.

TFE Hotels will operate the hotel, one of 73 with 10,374 keys across Australia, New Zealand and Europe.

Icon Oceania developed the hotel, having previously produced luxury residential project Calibre in Surry Hills, designed by Koichi Takada.

“Vibe Darling Harbour presents a brand new hotel, in an asset class where opportunities are few and far between. We identified Darling Harbour precinct as an area of further growth due to the significant public and private investment pipeline over the coming years,” Icon Oceania director, Nico Tjen said.

Langsford said that the property is set to capitalise on its strategic location between the CBD core and Darling Harbour, and proximity to the majority of the city’s world-class tourism attractions, accommodation demand generators and tourism infrastructure investment, such as Darling Harbour, CBD light rail and ICC Sydney.

Collins said the offering presents the first opportunity to purchase a brand new major hotel in the Sydney CBD since the $156 million sale of the Four Points by Sheraton Sydney Central Park to Jerry Schwartz in 2017.

“There were many hotel transactions in Sydney between 2013 and 2016, however since then there has been very limited opportunity to acquire a Sydney hotel. The majority of Sydney owners love their hotels and have no intention of selling over the medium term.”