Vincent Rae’s B&B Rae’s on Watego’s in Byron Bay has been sold to an unnamed European investor for an undisclosed price believed to be just over $20 million.
The property was built by Byron Bay restaurateur Ruth Harris as the Argentine Ant Cantina and later the eating establishment’s name was changed to La Belle Epoque. In 1994, Ms Harris sold it for $1.3 million to Vincent Rae who developed it into a luxury boutique retreat.
Rae’s on Watego’s was sold through Ray White Hotels agents, Tony Bargwanna and Andrew Joliffe, and Gerald Delany of Kay & Burton in Melbourne.
