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Rydges Bankstown sells to the Laundy Group

Colliers Rydges 2 LR8

Rydges Bankstown in Sydney’s southwest business district has been sold to the Laundy Group for $28 million after an on-market campaign. There was significant interest in the hotel despite the challenges of the recent Sydney lockdown. The Laundy Group owns the nearby Twin Willows hotel in Bass Hill and view this acquisition as an opportunity to expand their hospitality offering within the Canterbury-Bankstown region.

Rydges Bankstown has 120-rooms, restaurant, bar and conferencing facilities and on-grade parking for 150 cars. The property sits on a substantial 9,000 sqm site, which has flexible zoning to permit further development, which was viewed favourably by the Laundy Group.

The property was sold by Event Hotels and Resorts, who will retain the management of the hotel under the new owner.

The property was sold by Gus Moors, Karen Wales and Frank Oliveri of Colliers' Hotels team.

Related Experts

Gus Moors

Head of Hotels | Australia


Having joined Colliers in early 2014, I have subsequently sold over $180 million of hotel assets across Victoria and NSW, including the largest hotel transaction in Victoria since 2008, being Bell City Preston for $143 million.

Prior to joining Colliers, I was Director of Asset Management for Tourism Asset Holdings Limited (TAHL), Australia's largest hotel owner and responsible for selling down this portfolio totalling over $1.5 billion.

Before TAHL, I was with Jones Lang LaSalle Hotels for 7 years, as Head of Asset Management and Chief Operating Officer for the Hotels group across Asia Pacific.

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Karen Wales

National Director, Asia Pacific | Hotels Transaction Services


Karen has over twenty years of experience in the hotel industry and holds a Masters of Business Administration (MBA) from the Australian Graduate School of Management. She brings with her a specialised knowledge of the Asia Pacific hotel investment market and an ability to drive fresh capital into Australia’s hotel markets. She has developed an exceptional network over the past two years across Asia and the Middle East and within government, in her capacity as Senior Investment Specialist Tourism Infrastructure at Austrade and her knowledge of new entrants into the growing Australian tourism sector is second to none.      

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Frank Oliveri

Director In Charge | Sydney West & Sydney South West

Sydney West

Frank is the Director in Charge of Colliers Sydney West & Sydney South West offices and the National Director, Investment Services.

Frank served 17 years as a councillor on Fairfield City Council, he was also a Director of WSROC (Western Sydney Regional Organisation of Councils) for 4 years and served on the executive
of the Local Government Association of NSW.

Frank was previously appointed as a representative of the Liverpool City Council Independent Hearing and Assessment Panel between 2008 and 2010. Frank was also appointed by the NSW Government to the Board of the Greater Western Sydney Economic Development Board, Small Business Development Corporation, Regional Development Australian (Greater Sydney) and the Board of the Property Services Advisory Council.

Frank showcases extensive experience with business and various Government agencies across NSW at a local, state and federal level.

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