Boutique accommodation planned for Hotel Steyne

As part of a sales pitch to potential overseas buyers, plans have been put forward to transform Manly’s iconic Hotel Steyne so that it would include 42 boutique accommodation rooms.

There are plans to transform Hotel Steyne.

The Hotel Steyne in Manly could soon be better known for its boutique accommodation than its many popular bars.

The tourist hub’s most famous pub, which was put up for sale for $70 million-plus earlier this month, could be in for a major revamp.

Hotel Steyn is one of Sydney’s most iconic pubs. Picture: (AAP IMAGE / Troy Snook)

Agents are hoping to attract interest from Hong Kong and China with a plan to develop the “under-utilised” accommodation on the first floor into “42 boutique hotel rooms”.

The proposed scheme could even see the Glasshouse bar on the top floor converted into accommodation.

Colliers International working along with HTL Property, which is trying to sell the iconic landmark on behalf of the Singleton group, said it has submitted a development application.

In a statement, Colliers International said there was a strong demand for accommodation in the Manly area and it was “seeking offshore investors for the iconic establishment”.

Publican Arthur Laundy currently owns Hotel Steyne with John Singleton, Mark Carnegie and Robert Whyte

“As a hotel market, Manly is substantially under-supplied, with rates and occupancies rivalling that of the Sydney CBD hotels,” said Gus Moors, Head of Hotels at Colliers International.

“The Steyne is already a strong cashflow business, occupying a large and irreplaceable freehold site on Manly’s beachfront, with substantial upside in the current footprint of the hotel to unlock further profitability,” he said.

“This unique offering will appeal to a broad spectrum of offshore groups.

The size of this beachfront site would be of particular appeal to Hong Kong and Chinese buyers, said Steam Leung, the National Director of Asian Markets at Colliers International.

Steam Leung said Hotel Steyne would be of particular appeal to Hong Kong and Chinese buyers.

“These groups take a long-term investment horizon which may see them secure the site as an income generating land bank, with the potential to explore more extensive development opportunities in the future,” Mr Leung said.

“The current owners have already commenced investigations as to how to develop the property, and this will be of great interest to many of our clients.”

The Hotel Steyne is currently being sold by John Singleton, Mark Carnegie, Robert Whyte and Arthur Laundy.

The development application had not yet been loaded to the Northern Beaches Council’s website on Monday.

Expressions of Interest for the Steyne Manly, close March 13, 2019.