Image viaIntercontinentalSorrento Mornington PeninsulaOne of Victoria’s most recognisable coastal landmarks, the Continental Hotel in Sorrento, has officially been listed with a combined $150 million price guide. The move marks one of the most significant hospitality asset offerings of the year, according toThe Australian Financial Review.The 150-year-old property, restored in a $120 million redevelopment completed nearly four years ago, has been brought to market by the consortium behind its revival: Victor Smorgon Group, Kanat Group and Trenerry Property Group. Their strategy was always to reposition, stabilise and eventually divest the asset, and market conditions have aligned with that intent.A Trophy Asset with Strong Investor AppealThe offering bundles the 108-room InterContinental Sorrento hotel, its dining and event spaces, an underground car park, the Aurora Spa & Bathhouse, and the nearby 76-bed Sorrento Lodge for staff accommodation. The sale is structured as a sale-and-leaseback, opening the door for passive investors seeking long-term stability in an affluent coastal market.Agents JLL and Cushman & Wakefield expect substantial interest from both domestic and offshore investors, a reflection of the Mornington Peninsula’s increasing prestige and scarcity of large-scale hospitality assets.The Continental’s current owners acquired the site for $14.5 million in 2020 after a former $80 million redevelopment faltered. What followed was a landmark restoration culminating in the 2021 partnership with IHG under the InterContinental brand, turning the once-stalled project into a fully operational luxury destination.With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
One of Victoria’s most recognisable coastal landmarks, the Continental Hotel in Sorrento, has officially been listed with a combined $150 million price guide. The move marks one of the most significant hospitality asset offerings of the year, according toThe Australian Financial Review.The 150-year-old property, restored in a $120 million redevelopment completed nearly four years ago, has been brought to market by the consortium behind its revival: Victor Smorgon Group, Kanat Group and Trenerry Property Group. Their strategy was always to reposition, stabilise and eventually divest the asset, and market conditions have aligned with that intent.A Trophy Asset with Strong Investor AppealThe offering bundles the 108-room InterContinental Sorrento hotel, its dining and event spaces, an underground car park, the Aurora Spa & Bathhouse, and the nearby 76-bed Sorrento Lodge for staff accommodation. The sale is structured as a sale-and-leaseback, opening the door for passive investors seeking long-term stability in an affluent coastal market.Agents JLL and Cushman & Wakefield expect substantial interest from both domestic and offshore investors, a reflection of the Mornington Peninsula’s increasing prestige and scarcity of large-scale hospitality assets.The Continental’s current owners acquired the site for $14.5 million in 2020 after a former $80 million redevelopment faltered. What followed was a landmark restoration culminating in the 2021 partnership with IHG under the InterContinental brand, turning the once-stalled project into a fully operational luxury destination.With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
The 150-year-old property, restored in a $120 million redevelopment completed nearly four years ago, has been brought to market by the consortium behind its revival: Victor Smorgon Group, Kanat Group and Trenerry Property Group. Their strategy was always to reposition, stabilise and eventually divest the asset, and market conditions have aligned with that intent.A Trophy Asset with Strong Investor AppealThe offering bundles the 108-room InterContinental Sorrento hotel, its dining and event spaces, an underground car park, the Aurora Spa & Bathhouse, and the nearby 76-bed Sorrento Lodge for staff accommodation. The sale is structured as a sale-and-leaseback, opening the door for passive investors seeking long-term stability in an affluent coastal market.Agents JLL and Cushman & Wakefield expect substantial interest from both domestic and offshore investors, a reflection of the Mornington Peninsula’s increasing prestige and scarcity of large-scale hospitality assets.The Continental’s current owners acquired the site for $14.5 million in 2020 after a former $80 million redevelopment faltered. What followed was a landmark restoration culminating in the 2021 partnership with IHG under the InterContinental brand, turning the once-stalled project into a fully operational luxury destination.With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
A Trophy Asset with Strong Investor Appeal
The offering bundles the 108-room InterContinental Sorrento hotel, its dining and event spaces, an underground car park, the Aurora Spa & Bathhouse, and the nearby 76-bed Sorrento Lodge for staff accommodation. The sale is structured as a sale-and-leaseback, opening the door for passive investors seeking long-term stability in an affluent coastal market.Agents JLL and Cushman & Wakefield expect substantial interest from both domestic and offshore investors, a reflection of the Mornington Peninsula’s increasing prestige and scarcity of large-scale hospitality assets.The Continental’s current owners acquired the site for $14.5 million in 2020 after a former $80 million redevelopment faltered. What followed was a landmark restoration culminating in the 2021 partnership with IHG under the InterContinental brand, turning the once-stalled project into a fully operational luxury destination.With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
Agents JLL and Cushman & Wakefield expect substantial interest from both domestic and offshore investors, a reflection of the Mornington Peninsula’s increasing prestige and scarcity of large-scale hospitality assets.The Continental’s current owners acquired the site for $14.5 million in 2020 after a former $80 million redevelopment faltered. What followed was a landmark restoration culminating in the 2021 partnership with IHG under the InterContinental brand, turning the once-stalled project into a fully operational luxury destination.With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
The Continental’s current owners acquired the site for $14.5 million in 2020 after a former $80 million redevelopment faltered. What followed was a landmark restoration culminating in the 2021 partnership with IHG under the InterContinental brand, turning the once-stalled project into a fully operational luxury destination.With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
With premium tenants in place and year-round demand on the Peninsula, agents expect the listing to generate strong competition, cementing the Continental as one of the year’s standout commercial property opportunities.Previous ArticleNext Article
