The Observatory Hotel (The Langham Sydney) - SOLD

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Sold for 40,000,000 AUD Date of Sale: August 2012
Rooms: 96
Price Per Room: 416,667 AUD
Property Id : 29209

Long recognised for its unsurpassed luxury and personalised service, The Observatory Hotel is Australia’s most awarded five star hotel. Built in 1993 the hotel is a Sydney icon, named for its proximity to Sydney Observatory, and offers 96 opulent guest rooms and suites, a restaurant, cafe and bar, conference facilities, day spa and numerous other recreational amenities.

With touches of an astrophysical theme throughout, the Hotel’s restaurant is named after the Italian astronomer Galileo, Globe Brasserie & Bar features an original 18th century globe and the Hotel’s swimming pool mirrors the southern hemisphere constellations under a fibre-optic ceiling.

Featuring a sandstone exterior in a classical European elegance with a rich interior décor to match, the Hotel’s design is inspired by the historic surroundings of the nearby “The Rocks” precinct in Sydney’s Central Business District (‘CBD’).

Nestled beside the stunning Sydney Harbour, the Hotel is convenient to Sydney’s key tourist attractions, vibrant retail, theatre and restaurant precincts and moments from the commercial heart of the CBD. Furthermore, being just minutes from the landmark Barangaroo development, the Hotel is well placed to benefit from increasing levels of demand over the coming years. As Australia’s international gateway and financial capital, the Sydney accommodation market continues to show strong performance, having recorded the highest average rates in the country over the past ten years.

Landlocked by the harbour, development sites in the Sydney CBD are restricted, resulting in minimal construction of new hotel properties. These factors reinforce Sydney’s preeminent position as the country’s most sought after investment market.

The Property is currently owner-operated by Orient Express, with a preference to retain management upon sale. However Orient Express would be pleased to discuss potential operating agreements moving forward.

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