Jones Lang LaSalle : One of Australia’s most iconic hotels, InterContinental Sydney Double Bay, to be placed on the market

​​After much anticipation, the prestigious InterContinental Sydney Double Bay will be brought to market this week, signalling what is widely thought to be one of the last remaining opportunities to acquire a Sydney five-star trophy hotel in the near future.

JLL Hotels & Hospitality Group's Australasia CEO, Craig Collins, has been appointed as exclusive agent to lead the transaction.

Located in one of Sydney's most exclusive harbourside precincts, the hotel features 140 guest rooms & suites, extensive conferencing facilities, restaurant & bar, and one of Sydney's most spectacular rooftop offerings with a pool and bar overlooking Sydney Harbour.

The property, which occupies a landmark freehold site of over 3,670sqm, also boasts six prime street level retail tenancies and a 156 space underground public carpark. Pricing for the property is expected to be in excess of $150 million.

Mr Collins, said 'The InterContinental Sydney Double Bay is truly one of Sydney's most iconic hotel properties and there remains an incredibly strong desire for Sydney five-star hotel assets amongst international investors. The city is a target investment destination for global buyers, and is often referred to in the same breath as New York, London, Paris and Hong Kong when we meet with parties to discuss their investment aspirations.'

The InterContinental Sydney Double Bay is the first Sydney five-star hotel to be offered to the market since the record breaking Westin Sydney transaction took place in 2015. The large majority of the city's trophy stock is effectively 'locked up' by generational investors following several high profile deals in the past few years.

One of the 'jewels' of the Asia Pacific region, Sydney boasts a consistently strong trading market which is poised for further growth off the back of major projects such as the Sydney International Convention Centre and Barangaroo redevelopment.

He continued, 'The opportunity to acquire such a landmark hotel asset on over 3,670sqm of freehold land in one of Asia Pacific's strongest accommodation markets, is truly phenomenal.'

The InterContinental Sydney Double Bay is for sale by Expressions of Interest closing Monday 27 March 2017.