Kiama’s Sebel Harbourside hotel has finally changed hands after more than 12 months since an expression of interest was opened.
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The site – which includes the Blue Diamond Bar and Grill and 1871 restaurant – was acquired by an international hotel company for what’s believed to be a figure well above $10 million.
The deal included eight commercial strata lots for the food, beverage and conference business; the hotel management rights; One Fitness gym and 52 of the 88 strata titled serviced apartments.
Selling agent Matt Davidson said immediate plans were to maintain the site as is and develop an ongoing refurbishment plan, while local zoning ensured the property would remain a hotel.