Iconic Hawkesbury escape to receive significant investment from new owners.
The sale of ‘Retreat at Wisemans’, located in the historic township of Wisemans Ferry, to a private Chinese group has been brokered by Gus Moors and Raymond Tran from Colliers International.
The award-winning resort which has 54 rooms, a conference centre and golf course, was sold to a private, Shanghai-based hotel group that specialises in Chinese inbound travel to Australasia.
“This purchase represents the buyer’s first venture into the hotel space in Australia and they were attracted to the resort’s Wisemans Ferry location and close proximity to the stunning waterways of the Hawkesbury, as well as it being en route to the Hunter Valley tourism hub”, Raymond Tran of Colliers International said.
The retreat sits on a sizeable land holding of 18 hectares, together with an adjacent parcel of development land approved for an over 55’s estate.
“The site offers enormous potential and, coupled with a sub-$10m price tag, was a particularly attractive proposition for foreign investment”, Gus Moors said.
The rich history of the Wisemans Ferry township, including links to the ‘Convict Trail’ and Great North Road, was of real significance to the purchasers. The town’s two cable ferry crossings are amongst the oldest in the world.
The immediate plans of the purchasers was to lift the standards of the resort to a “deluxe offering worthy of its ambience” and undergo a rebranding exercise. Together with their joint venture partners who specialise in Chinese inbound travel, it is anticipated that this new market mix could potentially produce further demand in the picturesque Hawkesbury location.
The purchasers also signalled their interest in potential further enhancements and improvements to the resort.
“This new investment profile of travel partners teaming up with investment groups to cater for the swelling demand for Sydney hotel rooms is becoming more and more of an emerging trend,” Mr Tran said.
“This is largely the result of the increasing inbound average room rates into Sydney, compounded by the undersupply in rooms, which subsequently has travel groups branching out further into the suburbs and fringes of the Sydney metropolitan area.”