Developments

Spicers buy in Sydney

Spicers’ brand owners Graham and Jude Turner have paid $5.9m for the 25-room Victoria Court Hotel in Potts Point – their first venture into Sydney. The hotel was acquired from Perth-based Australian Heritage Corporation.

Victoria Court Hotel is a small historic boutique bed & breakfast hotel centrally located on Victoria St – the heart of Sydney’s gastronomic precinct which fits in well with the Spicers brand. The hotel’s buildings date from 1881 and retain the gracious ambience of that age.

Mr Turner said, “The Victoria Court will probably take a year to bring it up to Spicers standards. It will need some redevelopment, a reasonable amount of work. We will continue to run it but not under the Spicers brand.”

The sale was arranged by CBRE Hotels agents Andrew Jackson and Paul Kapiris

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