HOTEL, TOURISM & LEISURE

Who will add Byron Bay’s Jewel to their crown?

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HAVING been run as an exclusive accommodation destination for over a decade, a century-old Queenslander on the dress circle ridge of the Byron Bay hinterland is expected to sell for over $10 million.

The Jewel is on a 6.8-acre corner block with 360-degree views, and features wraparound balconies along with two modern self-contained Balinese style villas.

The entrance to the estate is a tree-lined drive past stables, a horse arena and a large outcrop of native trees, leading to the residential and entertainment compound with five large ensuite bedrooms.

It is close to thriving Byron Bay and surrounding beaches, and located only a few minutes to the fashionable boutique village of Newrybar with its hatted restaurant Harvest and just up the rise from the exclusive hillside market town of Bangalow.

The property’s vendor, ex-Sydney Publican, Rick De Leede credits the place as instrumental to his successful battle with stage four terminal cancer triggered by melanoma.

“We have been in the Byron area for 20 years and it took us six months to find this place which has been the most wonderful the home for past 19 years,” he said.

Marketing agent Janis Pekins of Real Estate of Distinction, Byron Bay, said, “The phrase once in lifetime can be over-used but in the case of this breathtaking property, it really is the case. There are quite literally, only two handfuls of properties with even similar views that exist.”

Byron Bay has seen a string of landmark properties change hands as the former hippie enclave attracts a ritzier bunch, including Hollywood celebrities such as Chris Hemsworth and a growing list of sports stars and influencers.

A consortium of investors headed up by Winchester Group has just acquired the Sun Hotel for more than $10 million. Winchester Group has just renovated the Beach Hotel at Byron Bay for Moelis Australia, which was acquired for $104 million at the end of 2019.

Winner of reality TV show The Bachelorette and pub owner Stu Laundy recently added The Lennox Hotel on the town’s beachfront to his portfolio in a deal worth about $40 million, while the long-term home of Byron Bay Backpackers is set to be redeveloped after being picked up by developers Podia.