Singapore Casino Group to Sell Oz Properties

Lasseters International plans to sell its Australian portfolio of hotels including the Cypress Lakes Resort (pictured) and The Golden Door Retreats.

The Singapore-based company expects to secure about $30 million for the resorts in regional tourist centres like the Hunter Valley and Gold Coast.

Jones Lang LaSalle Hotels managing director Mark Durran and senior vice-president Peter Harper are marketing Lasseters properties via an expressions of interest campaign.
Lasseters will retain its Alice Springs casino.

Lasseters acquired a controlling stake in the hotels assets in 2005 for about $12 million. The largest is the Cypress Lakes Resort, in the Hunter Valley, a 98ha property including an 18-hole golf course, 146 strata-titled villas, two large development sites including a cellar door leased to Brokenwood and 2ha of vineyards. Adjoining the resort, The Golden Door Elysia, is a purpose-built health retreat opened eight years ago.

Other properties include The Golden Door at Salt Village, The Golden Door Willow Vale on the Gold Coast, and The Golden Door Spa and Health Club at Mirage Resort, Surfers Paradise.

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