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Mercure Sydney Potts Point sold

The Mercure Sydney Potts Point could be the latest hotel in Kings Cross to become apartments, following the purchase of the property by Iris Capital for AUD$65 million from Australand Property Group.

Iris’ joint Managing Director Sam Arnaout has been quoted in the  media as saying the company will redevelop the hotel into a mixed-use property featuring residential and retail.

It is understood Accor Hotels will continue to operate the property until further notice.

Over the last decade, the former Sebel Townhouse, Parkroyal on Macleay Street, Rex Hotel and Hampton Court in the neighbourhood have all been converted to apartments, while former pub Mansions us currently undergoing an apartment conversion at the hands of Toga.

 

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