Sydney hotel sells for $65.8m

JLL Hotels & Hospitality Group has sold one of Australia’s newest hotels, Vibe Hotel Darling Harbour Sydney, for A$108 million ($65.8 million). Sold to a first-time buyer in the Australian hotel market, the new 4.5-star Sydney CBD hotel, which only opened late last year, features 145 modern guest rooms and “Above 319” — a landmark rooftop bar and swimming pool capturing the city’s skyline. Andrew Langsford, senior vice president at JLL Hotels & Hospitality Group, said, “This is the first acquisition of a major Sydney CBD hotel for several years. The campaign attracted a huge amount of global investor interest.” The hotel was designed by award-winning architecture firm WMK and delivered by experienced Sydney-based property group, Icon Oceania, with investments from Asia Pacific fund manager Aura Group and Karbon Property. Icon Oceania is also behind “Calibre” Surry Hills, a luxury residential development designed by renowned architect Koich