Pictured above: Chateau Yering
Expert national agency HTL Property in conjunction with Burgess Rawson, is pleased to announce the successful sale of Chateau Yering in Victoria’s Yarra Valley.
Built in 1854 and positioned on 250* acres of luscious land comprising 32 luxurious rooms, Chateau Yering provides high-end accommodation and multiple dining experiences for guests and tourists to the popular Victorian tourism region. The hotel separately boasts an established wedding and conference business.
Purchased by leading tourism and leisure asset owner Elanor Investors Group, the timeless property adds to the listed entity’s growing stable of boutique and experience-driven accommodation assets nationally.
“From our first inspection of the hotel, we saw immense potential in Chateau Yering; and plan to elevate the experience for future guests in order to deliver a unique luxury experience in one of the world’s best wine regions” commented Elanor Investors Head of Hotels, Marianne Ossovani.
“We are excited to roll out our platforms and expertise in this sector, with a major focus on upgrading the rooms and common areas; to not only drive revenue but ultimately create an accommodation and events offering that encourages repeat visitation” added Ossovani.
In a highly-contested sales process, HTL Property and Burgess Rawson generated in excess of 160 enquiries, resulting in a highly competitive second round of bidding.
“The sale of such an elegant and historical accommodation property, situated in one of Australia’s most visited tourist regions and so proximate to Melbourne, is symptomatic of a broader wave of astute investment capital washing over the nation seeking pockets of opportunity” advised HTL Property Managing Director, Andrew Jolliffe.
“The recent increase in demand for experience and boutique accommodation assets has not abated. We are seeing both private and institutional capital aggressively target the sector as demonstrated by this sale and further announcements to be released in following weeks” commented HTL Property Director, Nic Simarro.
“Assets of this nature rarely come to the market and it was a pleasure to work with our partners to connect our client with the right prospective buyers; and in doing so generate such a high level of interest through the extensive and publicly marketed campaign” added Burgess Rawson Head of Asian Investment Services, Zomart He.
Chateau Yering was sold via an Expression of Interest campaign exclusively managed by HTL Property and Burgess Rawson.
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