The historic property will now become a home. We would like to take this opportunity to thank our thousands, yes many thousands of guests, who have stayed with us for the past, almost twenty years, and also those in the decade before we took over, Wherry said in a statement with partner, Marie Harland. The hotel s name came from Peter Simpson, who previously owned and ran the hotel before selling it to Wherry for $2.85 million in 2002. Simpson had paid $209,750 in 1987 and restored the property, which became heritage listed in 2000. It was listed by Wherry in April 2018, with settlement taking place on Wednesday following its November exchange. Initially listed with $16 million hopes, there were revised expectations in February at between $12.7 million to $14 million.