A prominent backpackers near Manly Beach has changed ownership for around $ 12.5 million after a revival of budget travelers to Sydney.
The Boardrider Backpacker & Budget accommodation of 1158 m² has been part of the Make -up of Manly for more than 25 years.
Built in 2001 and managed by Peter Skerrett’s Private Family Office, Ingowrie Property, the building with four levels on the Corso that is being sold to a private investor.
The sale includes all assets, employees, activities and customer base of the hostel as a Going Preice, but with the purchase of plan to update the current facilities in the near future.
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Manly Boardriders Property Hasjust has been sold for $ 12.5 million. Photo: Colliers
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The budget accommodation is approximately 100 meters from Manly Beach. Photo: Colliers.
Because the number of budget travelers who return to Sydney after the COVID Pandemie has started to rise, their presence in a new life demanded demand for hostel accommodation in popular areas.
No stranger for this is the Northern Beaches area, where commuters traditionally come in the summer to collect sunshine, warm weather and cool waters.
From their experience, travelers started with an increased hostel experience with new facilities and functions.
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The four level, 28 -room accommodation is set for an upgrade by a private investor. Image: Colliers/Nathan Hallifax.
The accommodation has been a mainstay for travelers and part of the scene of the northern beaches for more than 25 years. Image: Colliers/Nathan Hallifax.
Almost 100 meters from the beach, the male backpackers currently have 28 rooms with a maximum of 120 people, including a cafe on the ground floor and the roof terrace with a view of the water.
Despite the plans, luxury homes and retail trade DA were approved and they were initially marketed as an investment option “ready for repositioning”.
Colliers Agents Tom Appleby, Karen Wales, Eugene White and Jackie Sue have managed the sale.
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