A prominent backpackers near Manly Beach has changed hands for about $12.5 million following a resurgence in budget travellers to Sydney.
The 1158 sqm Boardrider BackPacker & Budget Accomodation has for more than 25 years been a part of Manly’s makeup.
Built in 2001 and operated by Peter Skerrett’s private family office, Invergowrie Property, the four-level building on The Corso sold to a private investor.
The sale includes all the hostel’s assets, employees, operations, and customer base, as a going concern, but with the purchase intending to update the current facilities in the near future.
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Manly Boardriders property hasjust been sold for $12.5 million. Picture: Colliers
The budget accommodation is around 100m from Manly Beach. Picture: Colliers.
As the number of budget travellers returning to Sydney following the Covid pandemic has begun to rise, their presence sparks a reinvigorated demand for hostel accommodation across popular areas.
No stranger to this is the Northern beaches area, where commuters traditionally flock in summer to glean sunshine, warm weather and cool waters.
Of their experience, travellers have begun to crave an elevated hostel experience with new amenities and features.
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The four level, 28 room accommodation is set for an upgrade by a private investor. Picture: Colliers/Nathan Hallifax.
The accommodation has been a mainstay for travellers and part of the Northern Beaches scene for over 25 years. Picture: Colliers/Nathan Hallifax.
Close to 100m from the beach, the Manly backpackers currently boasts 28 rooms that can house up to 120 people, including a ground floor cafe and rooftop terrace with views overlooking the water.
Despite the plans, luxury residences and retail have been DA approved and was marketed initially as an investment opportunity “ready for repositioning”.
Colliers agents Tom Appleby, Karen Wales, Eugene White and Jackie Sue managed the sale.
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