The Adelphi Hotel,known for a rooftop swimming pool that is partially suspended above Flinders Lane,has sold for $19 million.
Wearing items from a beloved hotel property has suddenly become the hottest fashion flex.
Tall enough to cast a shadow over Melbourne’s Carlton Gardens,the 61-level luxury hotel is vacant despite a strong recovery in Australia’s hotel market.
For years,the Imperial at Clifton hotel was literally cut off,as there was only one road for access. Now,following an award-winning makeover,it has been revived in all its glory.
The resort has hosted a future king of England,movie stars and models and is on the market for $200 million-plus through a consortium including Star Entertainment.
Luxury hotels are back,with sales reaching $2.14 billion in 2022 – the second-highest transaction volume on record. And there’s more to come this year.
Sydney’s city skyline is enjoying a $100 billion-plus building boom,which has sparked a battle for the best upmarket amenities,rooftop bars,including the usual office spaces and luxury hotel rooms.
The Johnson Property Group’s $580 million Trinity Point project would give the Lake Macquarie area new apartments,a five-star hotel and function facilities.
Owners of the property in the heart of North Sydney hope to attract $40-$50 million for the recently upgraded 100-room building.
Developers are defying rising interest rates,constructions costs and inflationary pressures with more than $670 million worth of projects being approved.
The Wye Beach Hotel is the latest in a string of pubs on Victoria’s famed surf coast to change hands as investors follow the crowds to regions.