Blue Mountains resort for sale as regional NSW accommodation market booms

Expressions of Interest on the Leura Gardens Hotel will close on the 7th March.

A resort in the Blue Mountains that was closed during the pandemic has reopened its doors and been listed for commercial sale following a multimillion renovation.

Situated 100km west of Sydney’s CBD, the Leura Gardens Resort is a four-star resort that is situated on a 18,793 sqm land parcel and has price expectations of more than $20m.

CBRE Hotels’ Wayne Bunz and Raymond Tran are managing the Expressions of Interest campaign for the resort, which comprises a mixture of 92 rooms, suites, serviced apartments, and a two bedroom manager’s residence.
Held by private investment company ARFW, the property was once controlled by Mr Rubenstein and the late Frank Wolf, founder of Abacus Property and father of Jonathan Wolf, now the head of Centennial Property.

A view of the reception area.

The site, also known as the Nesuto Leura Gardens Hotel, includes conference and events facilities, two restaurants and bars, a coffee lounge, gym, and amenity rooms for a variety of uses.

Over the past year, the property had been closed for renovations to the rooms and updates to the facilities.

Mr Bunz said the current owners of the resort anticipate a reopening for bookings in mid-March, with the site boasting scenic viewpoints and lookouts.
MORE:
A nod to mid-century design in Lennox Head stunner
Sprawling luxe estate has private botanic garden
Builder’s stunning redesign adds $1m to price

The resort area closed during the pandemic for renovations.

“The resort’s already significant corporate and leisure offering is supported by the region’s booming drive visitor market which, combined with the property’s significant business and development potential, will provide an investor with substantial operational upside.”

The Expressions of Interest campaign will close on the 7th March unless sold prior.

A view of the restaurant area.

Leura Gardens Resort is being sold in the hopes to capitalise on the increased travel trends seen in NSW following closures during the pandemic.

Mr Tran noted a number of options for owner operators when the site reopened, including a rebranding, a residential sell down, and retirement living subject to planning approvals.

This reception room can be used for a variety of large group activities.

“The resort offers an incoming purchaser multiple income streams across an expansive campus, including short and long-term accommodation, multiple food and beverage outlets and a range of conference and events facilities.

“The mid-scale site is in a prime position to prosper from domestic tourism interest in the region and the competitive product positioning it offers for the budget conscious traveller, ranging from SME conference groups to family leisure groups.”