Toga Far East Hotels has listed its property at 182 Elizabeth St Sydney, which is currently leased to the Vibe Hotel, for sale.
The site has the potential for a residential conversion with more than 200 apartments. It has more than 17,000m² of gross floor area and is being sold by John Bowie Wilson and Tim Holtsbaum of Knight Frank and James Aroney and Mark Durran of JLL.
Mark Durran, managing director of JLL’s Hotel Investment Group, said the Vibe Hotel generates substantial cash flow and is available with ongoing management or flexible leaseback arrangements.
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